Form 4: Verizon CFO Acquires Phantom Stock Units

Verizon's EVP and CFO, Anthony T. Skiadas, acquired 148.746 phantom stock units through a deferred compensation plan.

Summary

• Anthony T. Skiadas, Verizon's Executive Vice President and Chief Financial Officer, acquired 148.746 phantom stock units.
• The transaction occurred on November 20, 2025, and was reported on November 21, 2025.
• These units were acquired indirectly through a deferred compensation plan, with a transaction code of 'A' for acquisition.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The acquisition price for the derivative security was $11.64 per unit.
• Following this transaction, the total beneficial ownership of phantom stock units by Mr. Skiadas is 130,982.894, which includes units acquired through dividend reinvestment.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock by a key executive is generally a neutral to slightly positive signal, indicating continued participation in the company's long-term incentive plans. It's a routine compensation event rather than a direct investment decision.

Positives

• An executive acquiring additional phantom stock units can be seen as a positive signal of continued alignment with the company's long-term performance.
• The transaction was part of a pre-arranged Rule 10b5-1(c) plan, indicating a systematic and compliant approach to executive compensation and investment.

Future Outlook

This filing reports a past transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This Form 4 reports a routine insider transaction related to executive compensation, which is a standard practice across publicly traded companies in the telecommunications sector and beyond. Such filings provide transparency into executive holdings and compensation structures.

Comparison to Industry Standards

• The acquisition of phantom stock through a deferred compensation plan is a common executive compensation mechanism in large corporations, including those in the telecommunications industry.
• This type of compensation aligns executive interests with shareholder value by linking compensation to company stock performance without direct equity ownership until settlement, a practice widely adopted by peers.

Related Party Transactions

• The acquisition of phantom stock units by the EVP and CFO through a deferred compensation plan constitutes a related party transaction as part of executive compensation.

Stakeholder Impact

• Shareholders: May view the executive's continued participation in equity-linked compensation as a sign of alignment with long-term company performance and a commitment to shareholder value.

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 units by a key executive as part of a deferred compensation plan. Such transactions are common and generally do not indicate a significant shift in the company's fundamental outlook or warrant a change in investment recommendation. It primarily reflects ongoing executive compensation arrangements.

Keywords

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