Form 4: Verizon CEO Acquires Phantom Stock Units in Deferred Compensation Plan

Verizon Communications Inc. Chairman and CEO Hans Erik Vestberg acquired 227.017 units of phantom stock as part of a deferred compensation plan, effective July 17, 2025.

Summary

• Hans Erik Vestberg, Chairman and CEO of Verizon Communications Inc. (VZ), acquired 227.017 units of phantom stock.
• The transaction date for this acquisition is July 17, 2025.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The phantom stock units become payable upon events established by Mr. Vestberg in accordance with the deferred compensation plan.
• The acquisition was made at a price of $11.69 per phantom stock unit.
• Following this transaction, Mr. Vestberg beneficially owns 195,130.265 units of phantom stock indirectly through a Deferred Compensation Plan.
• The total beneficial ownership includes phantom stock previously acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: Neutral, as this is a standard disclosure of executive compensation through a deferred phantom stock plan, not indicative of positive or negative company performance or market activity.

Future Outlook

The phantom stock units are payable upon events established by the reporting person in accordance with the deferred compensation plan, indicating a future payout mechanism.

Management Comments

• 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.

Industry Context

This filing represents a routine executive compensation disclosure within the telecommunications industry, reflecting a pre-planned acquisition of phantom stock units by a senior executive as part of a deferred compensation arrangement, rather than a market-driven transaction.

Stakeholder Impact

• Shareholders: This transaction is a routine executive compensation disclosure and does not directly impact the company's operational performance or financial health in the short term. It reflects a component of the CEO's long-term incentive and retention plan.

Next Steps

• Phantom stock units will become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Key Dates

Recommendation

Keywords

Verizon, VZ, Hans Erik Vestberg, Phantom Stock, Deferred Compensation, Insider Transaction, SEC Form 4, Executive Compensation