Form 4: Verizon CFO Acquires Phantom Stock Units

Verizon Communications Inc.'s EVP and CFO, Anthony T. Skiadas, acquired 146.959 phantom stock units through a deferred compensation plan.

Summary

• Anthony T. Skiadas, EVP and CFO of Verizon Communications Inc. (VZ), acquired 146.959 phantom stock units on December 4, 2025.
• These units were acquired indirectly through a deferred compensation plan, including amounts from dividend reinvestment.
• Each phantom stock unit is the economic equivalent of approximately 0.2858 shares of common stock, settled in cash, and becomes payable upon events established by Mr. Skiadas in accordance with the deferred compensation plan.
• The acquisition price for these derivative securities was $11.78 per unit, totaling approximately $1,721.
• Following this transaction, Mr. Skiadas beneficially owns a total of 131,129.853 phantom stock units.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock by a key executive is a moderately positive signal, indicating management's alignment with long-term company performance. However, it's not a direct common stock purchase and is part of a compensation plan, which tempers the bullishness compared to an open market purchase.

Positives

• The acquisition of phantom stock by a key executive (CFO) can signal confidence in the company's future performance.
• The acquisition was part of a deferred compensation plan, indicating long-term alignment with shareholder interests.

Negatives

• No direct acquisition of common stock, as phantom stock is settled in cash and represents a 'portion' of a common stock, not direct equity ownership.

Risks

• The value of phantom stock is tied to the performance of Verizon's common stock, exposing the executive to market fluctuations.

Future Outlook

The acquisition of phantom stock units, which are settled in cash and tied to the common stock's economic value, indicates a long-term incentive for the CFO, aligning their future compensation with the company's stock performance.

Industry Context

Insider acquisitions, even of derivative securities like phantom stock, are generally viewed positively as they suggest executive confidence in the company's future. In the telecommunications industry, executive compensation often includes equity-linked incentives to align management with shareholder interests amidst competitive pressures and technological shifts.

Comparison to Industry Standards

• Executive compensation structures in the telecommunications sector frequently include performance-based equity or equity-equivalent awards, similar to this phantom stock plan at Verizon.
• Companies like AT&T (T) and T-Mobile (TMUS) also utilize various forms of restricted stock units, stock options, and deferred compensation plans to incentivize their senior leadership.
• The use of phantom stock, settled in cash, is a common mechanism for deferred compensation, particularly in industries where direct stock ownership might have specific tax or regulatory implications for executives.

Stakeholder Impact

• Shareholders: The transaction aligns the CFO's financial interests with the company's stock performance, potentially benefiting shareholders through improved long-term value creation.
• Employees: No direct impact on general employees.

Next Steps

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

Key Dates

Recommendation

This Form 4 filing reports a routine acquisition of phantom stock by Verizon's CFO as part of a deferred compensation plan. While insider buying can be a positive signal, this is not an open market purchase of common stock and is part of a pre-existing compensation structure. It indicates continued alignment of management's interests with the company's long-term performance but does not present new information significant enough to alter a fundamental investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals rather than this specific transaction.

Keywords

Verizon, VZ, Anthony T. Skiadas, CFO, Phantom Stock, Deferred Compensation, Insider Transaction, SEC Form 4, Executive Compensation, Dividend Reinvestment