Form 4: Verizon CEO Hans Vestberg Acquires Phantom Stock Units Under Deferred Compensation Plan

Verizon Communications Inc. CEO Hans Erik Vestberg has acquired 223.145 phantom stock units as part of a pre-arranged deferred compensation plan, aligning his interests with the company's future performance.

Summary

• Hans Erik Vestberg, Chairman and CEO of Verizon Communications Inc. (VZ), filed a Form 4 disclosing an insider transaction.
• The filing reports the acquisition of 223.145 phantom stock units on June 18, 2025, a future scheduled transaction.
• These phantom stock units were acquired at a price of $11.89 per unit.
• Each phantom stock unit is the economic equivalent of a portion of one share of Verizon common stock and is settled in cash.
• The acquisition was made indirectly through a deferred compensation plan and is part of a Rule 10b5-1(c) pre-arranged plan.
• The acquired phantom stock units are linked to a total of 64 shares of Verizon common stock.
• Following this transaction, Mr. Vestberg beneficially owns a total of 194,689.865 phantom stock units.
• The phantom stock units become payable upon events established by Mr. Vestberg in accordance with the deferred compensation plan.

Sentiment

Score: 7

Explanation: The filing indicates a routine, pre-planned acquisition of phantom stock by the CEO as part of his compensation, which generally signals continued executive alignment with the company's performance. It is a neutral to slightly positive event as it reflects ongoing executive retention and incentive alignment.

Positives

• The acquisition of phantom stock by the Chairman and CEO aligns his financial interests with the long-term performance of Verizon Communications Inc.
• The transaction is part of a pre-arranged Rule 10b5-1(c) plan, indicating a structured and compliant approach to executive compensation.

Future Outlook

The transaction date of June 18, 2025, indicates a future scheduled acquisition of phantom stock units under a deferred compensation plan, reflecting a pre-planned compensation event.

Management Comments

• The filing itself represents a disclosure of a planned executive compensation event for Hans Erik Vestberg, Chairman and CEO, indicating his continued participation in the company's long-term incentive programs.

Industry Context

This is a standard executive compensation disclosure for a large publicly traded telecommunications company like Verizon, reflecting common practices for aligning executive incentives with shareholder value through equity-linked instruments such as phantom stock and deferred compensation plans.

Comparison to Industry Standards

• Executive compensation structures involving phantom stock and deferred compensation plans are common across large, established companies in the telecommunications sector, including peers like AT&T and T-Mobile, and broader S&P 500 firms.
• The specific details of the grant size and valuation are consistent with typical executive incentive programs designed to retain key leadership and align their financial interests with long-term company performance.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by the CEO aligns his financial interests with the company's long-term performance, potentially benefiting shareholders through improved governance and strategic focus.

Next Steps

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

Key Dates

Keywords

Verizon, VZ, Hans Vestberg, CEO, Phantom Stock, Executive Compensation, Deferred Compensation, Insider Transaction, Form 4, Rule 10b5-1