Form 4: Verizon CEO Acquires Phantom Stock in Deferred Plan

Verizon CEO Daniel H. Schulman acquired 228.077 units of phantom stock through a deferred compensation plan, increasing his indirect beneficial ownership.

Summary

• Daniel H. Schulman, CEO and Director of Verizon Communications Inc., acquired 228.077 units of phantom stock on November 20, 2025.
• The acquisition was made indirectly through a deferred compensation plan.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The price of the derivative security (phantom stock unit) was $11.64.
• Following this transaction, Schulman beneficially owns a total of 824.474 units of phantom stock indirectly.
• The phantom stock units become payable upon events established by Schulman in accordance with the deferred compensation plan.

Sentiment

Score: 6

Explanation: Routine executive compensation transaction, indicating continued participation in the company's deferred compensation plan, which is mildly positive for shareholder alignment.

Positives

• Acquisition of additional equity-linked compensation by the CEO, aligning executive interests with long-term company performance.
• Participation in a deferred compensation plan demonstrates a commitment to long-term investment in the company.

Negatives

• No direct negatives are apparent from this routine compensation filing.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance.

Management Comments

• No direct quotes from management are provided in this Form 4. The transaction itself reflects a management action within the compensation framework.

Industry Context

This is a standard executive compensation event, where phantom stock is used to provide equity-like incentives without granting actual shares immediately. Such plans are common across various industries to defer income and align executive interests with shareholder value over time.

Comparison to Industry Standards

• Phantom stock plans are a common form of executive compensation, particularly for deferred compensation, across many large publicly traded companies.
• The structure, where units are equivalent to a portion of common stock and settled in cash, is a standard approach to provide equity exposure without direct share ownership.
• No specific comparable companies or projects are mentioned in the filing to allow for a direct comparison of results.

Stakeholder Impact

• Shareholders: Minor positive impact due to increased alignment of the CEO's long-term financial interests with company performance.
• Employees: No direct impact on general employees.
• Customers, Suppliers, Creditors: No direct impact.

Next Steps

• No specific future actions, events, or milestones are mentioned in this filing.

Key Dates

Keywords

Verizon, VZ, Daniel Schulman, Phantom Stock, Deferred Compensation, Insider Trading, SEC Form 4, Executive Compensation, Stock Acquisition