Form 4: Verizon CEO Daniel Schulman adds phantom stock units

Daniel H. Schulman reported acquiring 183.933 phantom stock units via dividend reinvestment under Verizon’s deferred compensation plan.

Summary

• Daniel H. Schulman, Director and CEO of Verizon Communications Inc. (VZ), acquired 183.933 phantom stock (unitized) units on 2026-03-26.
• Transaction Code: A (acquired); Ownership: Indirect via Deferred Compensation Plan.
• Price of derivative security: $14.47 per unit.
• Amount of securities underlying the derivative: 52 shares of common stock.
• Total phantom stock units beneficially owned after the transaction: 6,783.762 units.
• Phantom stock units are the economic equivalent of a portion of one common share and are settled in cash.
• Units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• Includes units acquired through dividend reinvestment.
• A Power of Attorney (POA) dated 2026-03-26 authorizes six individuals to prepare and file Section 16 reports and manage EDGAR account administration on Schulman’s behalf.
• Form 4 electronically signed by attorney-in-fact Evgeniya Berezkina on 2026-03-30.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as neutral; a routine deferred compensation accrual and administrative POA with no bearing on fundamentals or outlook.

Positives

• Administrative clarity: POA in place to ensure timely, accurate Section 16 compliance.
• No dilution: Phantom stock units are settled in cash, not in newly issued shares.
• Ongoing dividend reinvestment credited to the executive’s deferred compensation account.

Negatives

• No open-market purchase of common stock disclosed.
• No information provided on company financial performance or operational updates.

Future Outlook

No forward-looking statements or guidance were provided; this is an administrative insider transaction disclosure.

Management Comments

• Each phantom stock unit represents the economic equivalent of a portion of one share of common stock and is settled in cash; payable upon events established by the reporting person under the deferred compensation plan.
• Includes phantom stock acquired through dividend reinvestment.
• Power of Attorney authorizes designated individuals to prepare and file Section 16 reports and manage EDGAR account administration until terminated in writing.

Industry Context

StockSavvy.ai notes that executive phantom stock credits via dividend reinvestment and related Section 16 reporting are routine among large-cap U.S. companies, including telecom peers, and typically carry no implication for operating performance or capital structure.

Comparison to Industry Standards

• Comparable to AT&T Inc. and Comcast Corporation practices where executives receive phantom stock or deferred compensation credits with dividend equivalents, disclosed via Form 4.
• Use of cash-settled phantom stock to avoid dilution aligns with common large-cap governance and compensation practices.
• Appointment of multiple attorneys-in-fact for EDGAR and Section 16 compliance is standard administrative practice among Fortune 100 issuers.

Corporate Governance

Stakeholder Impact

• No shareholder dilution since phantom stock is cash-settled.
• No impact on dividend policy, cash flows, or capital structure disclosed.
• Improved compliance infrastructure via POA supports timely and accurate insider reporting.

Next Steps

• No additional actions disclosed; phantom stock becomes payable upon plan-specified events.
• Attorneys-in-fact remain authorized to handle future Section 16 filings and EDGAR administration until termination of the POA.

Key Dates

Keywords

Verizon Communications, VZ, Form 4, insider transaction, Daniel H. Schulman, phantom stock, deferred compensation plan, dividend reinvestment, Section 16, EDGAR, power of attorney