Form 4: Verizon CFO Boosts Phantom Stock Holdings

Verizon's EVP and CFO, Anthony T. Skiadas, acquired 148.487 phantom stock units through a deferred compensation plan, increasing his total beneficial ownership to 128,300.921 units.

Summary

• Anthony T. Skiadas, Executive Vice President and Chief Financial Officer of Verizon Communications Inc., acquired 148.487 phantom stock units.
• The transaction occurred on October 9, 2025, at a price of $11.66 per phantom stock unit.
• Following this acquisition, Mr. Skiadas beneficially owns a total of 128,300.921 phantom stock units.
• The phantom stock units are acquired indirectly through a deferred compensation plan and include units obtained via dividend reinvestment.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• The derivative security (phantom stock) is stated to underlie 42 shares of Verizon Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it reflects a routine executive compensation event and continued alignment of management interests, without indicating any negative operational or strategic developments.

Positives

• The acquisition of phantom stock units by a key executive, even if cash-settled, generally indicates continued alignment of management's interests with the company's performance.
• The transaction is part of a deferred compensation plan, which is a standard mechanism for executive retention and long-term incentive.

Future Outlook

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

Industry Context

This transaction represents a routine executive compensation event within the telecommunications industry, where deferred compensation plans and phantom stock are common tools for aligning executive incentives with long-term company performance.

Comparison to Industry Standards

• The use of phantom stock as a component of executive compensation and deferred compensation plans is a standard practice across large publicly traded companies, including those in the telecommunications sector.
• The structure, where phantom stock is cash-settled and tied to the economic value of common stock, is consistent with typical industry benchmarks for non-equity incentive compensation.

Stakeholder Impact

• Shareholders: Minor positive impact due to continued executive alignment with company performance through a compensation vehicle.

Next Steps

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

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation transaction involving phantom stock units. It does not provide new information that would significantly alter the investment thesis for Verizon Communications Inc. The transaction is part of a deferred compensation plan and includes dividend reinvestment, which are expected activities. Therefore, a 'hold' recommendation is appropriate as there are no new fundamental drivers for a 'buy' or 'sell' decision based solely on this filing.

Keywords

Verizon, VZ, SEC Form 4, Insider Transaction, Executive Compensation, Phantom Stock, Deferred Compensation, Financial Reporting