Form 4: Verizon CFO Acquires Phantom Stock Under 10b5-1 Plan

Verizon's EVP and CFO, Anthony T. Skiadas, reported the acquisition of 154.679 phantom stock units under a Rule 10b5-1 plan, increasing his beneficial ownership to 131,584.077 units.

Summary

• Anthony T. Skiadas, EVP and CFO of Verizon Communications Inc., acquired 154.679 phantom stock units on January 15, 2026.
• This transaction was made pursuant to a Rule 10b5-1 pre-arranged trading plan.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• These units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• Following this transaction, Skiadas beneficially owns a total of 131,584.077 phantom stock units.
• The reported beneficial ownership includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a key executive, even if cash-settled, generally indicates confidence in the company's long-term prospects and aligns executive incentives with shareholder value. The transaction is part of a deferred compensation plan and executed under a 10b5-1 plan, which are standard and transparent practices.

Positives

• Increased beneficial ownership by a key executive (CFO) can signal confidence in the company's future performance.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-arranged, transparent acquisition strategy.
• Acquisition through a deferred compensation plan aligns executive interests with long-term shareholder value.

Negatives

• Phantom stock, while aligning interests, does not confer direct equity ownership or voting rights, unlike common stock.
• Settlement in cash means the executive does not directly participate in potential long-term capital appreciation of the physical shares.

Risks

• The value of the phantom stock is subject to the market price fluctuations of Verizon's common stock.
• The timing and amount of cash settlement are dependent on events established by the reporting person within the deferred compensation plan.

Future Outlook

The filing does not contain forward-looking statements or guidance from the company, focusing solely on an executive's transaction.

Industry Context

This is an insider transaction report, specific to Verizon and its executive compensation structure. It reflects common practices of executive deferred compensation plans and Rule 10b5-1 trading plans in large publicly traded corporations within the telecommunications industry.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock, are common executive compensation tools in large publicly traded companies like Verizon, aligning executive interests with company performance without immediate equity dilution.
• The use of Rule 10b5-1 plans for pre-scheduled transactions is a standard practice across industries to mitigate insider trading concerns and enhance transparency.

Related Party Transactions

• The acquisition of phantom stock by an executive from the company is a related party transaction, executed as part of an established deferred compensation plan.

Stakeholder Impact

• Shareholders: The transaction aligns the CFO's financial interests with the company's performance, potentially benefiting shareholders through improved management focus. There is no direct dilution as it involves cash-settled phantom stock.

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

Recommendation

This Form 4 reports a routine acquisition of phantom stock by a key executive as part of a deferred compensation plan and a 10b5-1 trading plan. While it indicates executive alignment with company performance, it is not a significant market-moving event on its own to warrant a change in investment recommendation. Investors should continue to hold based on broader company fundamentals and market conditions.

Keywords

Verizon, VZ, Anthony T. Skiadas, CFO, Phantom Stock, Deferred Compensation, Insider Transaction, SEC Form 4, Executive Compensation, 10b5-1 Plan