VZ Insider Filing: CFO Adds Deferred Phantom Stock Units

Rhea-AI Filing Summary

Verizon Communications insider transaction: Anthony T. Skiadas, EVP and CFO, acquired 139.437 units of phantom stock on 08/14/2025 under the companys deferred compensation plan. Each phantom unit represents an economic interest settled in cash rather than actual shares; the units become payable per elections under the plan. The filing shows the acquisition included dividend reinvestment and reports 127,737.009 phantom stock units beneficially owned indirectly after the transaction. The form was signed by an attorney-in-fact on 08/15/2025.

Insights

Financial Analyst

TL;DR: Company CFO acquired phantom stock units via deferred compensation; represents executive pay deferral, not direct equity.

The reported acquisition of 139.437 phantom stock units is a compensation-related transaction, settled in cash and not actual common stock. This aligns executive pay with long-term value without immediate share dilution. The filing reports a large aggregate holding of 127,737.009 units, suggesting ongoing participation in the deferred plan. The transaction does not change share count or immediate ownership voting rights.

Corporate Governance Expert

TL;DR: Transaction is governance-friendly as a deferred, cash-settled award, creating alignment without issuing new shares.

Phantom stock under the deferred compensation plan ties executive compensation to the companys economic performance while avoiding issuance of equity. The filing discloses indirect beneficial ownership and dividend reinvestment, consistent with plan mechanics. This is a routine disclosure for an officer and carries limited direct corporate governance impact beyond incentive alignment.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Skiadas Anthony T

(Last) (First) (Middle)

VERIZON COMMUNICATIONS INC.

1095 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VERIZON COMMUNICATIONS INC [ VZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock (unitized)	(1)	08/14/2025		A		139.437		(1)	(1)	Common Stock	40	$12.41	127,737.009(2)	I	By Deferred Compensation Plan

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash. The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.

2. Includes phantom stock acquired through dividend reinvestment.

Remarks:

	Evgeniya Berezkina, Attorney-in-fact for Anthony T. Skiadas	08/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Verizon (VZ) EVP and CFO report on Form 4?

The filing reports that Anthony T. Skiadas acquired 139.437 phantom stock units on 08/14/2025 under Verizons deferred compensation plan.

Do the phantom stock units reported on the Form 4 convert to actual Verizon shares?

No. The Form 4 states each phantom unit is an economic equivalent settled in cash and does not represent issuance of common stock.

How many phantom stock units does the reporting person beneficially own after the transaction?

The filing shows 127,737.009 phantom stock units beneficially owned following the reported acquisition, including units acquired via dividend reinvestment.

Was a price disclosed for the phantom stock units on the Form 4?

The table shows a reference price of $12.41 associated with the underlying common stock per the reported derivative row.

Who signed the Form 4 for Anthony T. Skiadas and when?

The form was signed by Evgeniya Berezkina, Attorney-in-fact for Anthony T. Skiadas on 08/15/2025.