Form 4: Verizon CEO Acquires Phantom Stock via Deferred Plan

Verizon CEO Daniel H. Schulman acquired 230.047 phantom stock units through a deferred compensation plan, increasing his indirect beneficial ownership.

Summary

• Daniel H. Schulman, CEO and Director of Verizon Communications Inc. (VZ), reported an acquisition of derivative securities.
• The transaction occurred on December 18, 2025, and was made pursuant to a Rule 10b5-1 plan.
• Schulman acquired 230.047 units of phantom stock.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The acquired phantom stock units are equivalent to 66 shares of common stock.
• The price of the derivative security was $11.54 per unit.
• Following this transaction, Schulman indirectly beneficially owns 1,279.858 phantom stock units through a deferred compensation plan.
• These phantom stock units become payable upon events established by Schulman in accordance with the deferred compensation plan.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock by the CEO, even if indirect and part of a deferred compensation plan, generally signals management's continued commitment and alignment with the company's long-term performance.

Positives

• The acquisition of phantom stock by CEO Daniel H. Schulman indicates continued alignment of management's interests with shareholder value, as these units are tied to the company's common stock performance.
• The transaction was executed under a Rule 10b5-1 plan, demonstrating a pre-planned and structured approach to compensation and equity ownership.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

This insider transaction is a routine compensation-related event for a senior executive and does not provide specific insights into broader industry trends or competitive dynamics within the telecommunications sector.

Related Party Transactions

• The acquisition of phantom stock units occurred through a deferred compensation plan, which is a standard arrangement between the company and its executive.

Stakeholder Impact

• Shareholders: The transaction signals management's continued alignment with shareholder interests through equity-linked compensation.
• Employees: No direct impact on general employees is indicated by this filing.

Key Dates

Keywords

Verizon, VZ, Daniel H. Schulman, Phantom Stock, Insider Transaction, SEC Form 4, Deferred Compensation, Rule 10b5-1