Verizon (VZ) legal chief receives cash-settled phantom stock grant

Rhea-AI Filing Summary

Verizon Communications EVP and Chief Legal Officer Vandana Venkatesh reported a compensation-related grant of phantom stock units under a deferred compensation plan. On the reported date, she acquired 88.433 unitized phantom stock derivatives, economically tied to portions of Verizon common stock and settled in cash rather than shares.

The units are held indirectly through a deferred compensation plan and become payable upon events she established under that plan. Following this award and prior accruals, including amounts from dividend reinvestment, her deferred compensation account reflected 55,133.119 phantom stock units linked to Verizon common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Venkatesh Vandana

Role EVP and Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized)	88.433	$14.44	$1K

Holdings After Transaction: Phantom Stock (unitized) — 55,133.119 shares (Indirect, By Deferred Compensation Plan)

Footnotes (1)

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. Includes phantom stock acquired through dividend reinvestment.

Form 4 Insider Transactions: What Each Field Means →

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^*

Venkatesh Vandana

(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 Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)	03/12/2026		A		88.433		(1)	(1)	Common Stock	25	$14.44	55,133.119(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 Vandana Venkatesh	03/13/2026
	** 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 insider transaction did Verizon (VZ) report for Vandana Venkatesh?

Verizon reported that EVP and Chief Legal Officer Vandana Venkatesh received a grant of 88.433 unitized phantom stock derivatives. These awards are part of a deferred compensation plan and are economically linked to Verizon common stock but settled in cash, not actual shares.

How many phantom stock units does Vandana Venkatesh hold after this Form 4?

After the reported award, Vandana Venkatesh’s deferred compensation account shows 55,133.119 phantom stock units. This figure reflects cumulative phantom stock holdings under the plan, including units acquired through dividend reinvestment tied to Verizon common stock performance.

Is the Verizon (VZ) phantom stock grant to Venkatesh an open-market share purchase?

No, the transaction is a compensation-related grant, not an open-market stock purchase. The Form 4 describes unitized phantom stock that is economically equivalent to portions of Verizon common stock but is settled in cash under a deferred compensation plan framework.

How is the Verizon phantom stock for Vandana Venkatesh settled and when is it payable?

Each phantom stock unit is settled in cash, mirroring the value of a portion of one Verizon common share. The phantom stock becomes payable upon events that Venkatesh established in accordance with the company’s deferred compensation plan, such as specified deferral or payout dates.

How is Vandana Venkatesh’s ownership of Verizon (VZ) phantom stock classified?

The filing classifies her phantom stock holdings as indirect ownership through a deferred compensation plan. The nature of ownership field specifies “By Deferred Compensation Plan,” indicating the positions are plan-based economic interests rather than directly held Verizon common stock shares.

Does the Verizon Form 4 mention dividend reinvestment in the phantom stock account?

Yes, one footnote states that the reported total includes phantom stock acquired through dividend reinvestment. This means cash-equivalent dividends credited under the plan are converted into additional phantom stock units, increasing the overall deferred compensation balance linked to Verizon common stock.