Form 4: Verizon CEO Acquires Phantom Stock via Deferred Plan

Verizon CEO Daniel H. Schulman acquired 225.337 phantom stock units through a deferred compensation plan, increasing his indirect beneficial ownership to 1,049.811 units.

Summary

• Daniel H. Schulman, CEO and Director of Verizon Communications Inc., acquired 225.337 phantom stock units.
• The transaction occurred on December 4, 2025.
• These phantom stock units were acquired 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 $11.78.
• Following this acquisition, Schulman beneficially owns 1,049.811 phantom stock units indirectly.
• The phantom stock becomes payable upon events established by Schulman in accordance with the deferred compensation plan.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. It's a routine compensation event, but the increase in beneficial ownership by a key executive can be seen as a minor positive signal for alignment of interests.

Positives

• CEO Daniel H. Schulman increased his beneficial ownership in Verizon Communications Inc. through the acquisition of 225.337 phantom stock units.
• The acquisition was made through a deferred compensation plan, indicating a long-term incentive and alignment of management's interests with shareholders.

Future Outlook

The phantom stock units will become payable upon events established by Daniel H. Schulman in accordance with the deferred compensation plan, indicating a future cash settlement based on these units.

Industry Context

This is a routine insider transaction for a large telecommunications company. Such transactions are common for executive compensation and do not typically reflect broader industry trends unless they are unusually large or frequent.

Comparison to Industry Standards

• This is a standard executive compensation mechanism (deferred compensation via phantom stock) commonly used across various industries, including telecommunications.
• Companies like AT&T, T-Mobile, and other large corporations often utilize similar plans to align executive incentives with long-term company performance.
• The specific amounts are relative to the executive's compensation package and company size, and this transaction falls within typical parameters for a CEO of a major corporation.

Corporate Governance

Related Party Transactions

• Acquisition of phantom stock units by CEO Daniel H. Schulman through Verizon's deferred compensation plan, representing a standard compensation-related related-party transaction.

Stakeholder Impact

• Shareholders: Increased alignment of CEO's financial interests with long-term shareholder value through deferred compensation.

Next Steps

• The phantom stock units will become payable upon events established by Daniel H. Schulman in accordance with the deferred compensation plan.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of phantom stock by the CEO as part of a deferred compensation plan. While it indicates alignment of management's interests with the company's long-term performance, it does not present new fundamental information or a significant change in the company's outlook that would warrant a change from a 'hold' recommendation based solely on this filing. It's a standard compensation event.

Keywords

Verizon, VZ, Daniel H. Schulman, Phantom Stock, Deferred Compensation, Insider Transaction, SEC Form 4, Beneficial Ownership, CEO, Director