Form 4: Verizon Director Jennifer Mann Acquires Phantom Stock

Verizon Communications Inc. Director Jennifer K. Mann acquired 1,978 shares of phantom stock through a deferred compensation plan.

Summary

• Jennifer K. Mann, a Director at Verizon Communications Inc., acquired 1,978 shares of phantom stock.
• The transaction occurred on August 25, 2025.
• The phantom stock is held indirectly through a Deferred Compensation Plan.
• Each phantom stock share is economically equivalent to one common stock share and will be settled in cash.
• These shares become payable upon Ms. Mann's termination of service as a director.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. It's a routine compensation event, but it shows continued director alignment with the company's long-term performance.

Positives

• Director Jennifer K. Mann increased her indirect beneficial ownership in Verizon Communications Inc. through the acquisition of 1,978 shares of phantom stock.
• The acquisition aligns the director's interests with shareholders, as phantom stock is tied to the company's common stock performance.

Future Outlook

The phantom stock becomes payable following the reporting person's termination of service as a director, indicating a long-term incentive structure.

Industry Context

This transaction is a routine compensation-related event for a director of a major telecommunications company like Verizon, reflecting standard corporate governance practices for executive and director incentives.

Comparison to Industry Standards

• The use of phantom stock as a deferred compensation mechanism for directors is a common practice across large, publicly traded companies in the telecommunications sector and broader industries, aligning director incentives with long-term shareholder value.
• Companies like AT&T (T) and T-Mobile (TMUS) also utilize various forms of equity-based compensation, including restricted stock units or phantom stock, for their non-employee directors to foster alignment and retention.

Corporate Governance

Stakeholder Impact

• Shareholders: Positive, as director compensation tied to stock performance aligns director interests with shareholder value.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.

Next Steps

• The phantom stock will become payable following Jennifer K. Mann's termination of service as a director.

Key Dates

Recommendation

This Form 4 filing reports a routine compensation-related acquisition of phantom stock by a director. While it indicates continued alignment of director interests with the company's long-term performance, it does not present new information significant enough to warrant a change in investment recommendation. It's a standard governance practice that supports a "hold" position for existing investors.

Keywords

Verizon, VZ, Jennifer K. Mann, Director, Phantom Stock, Deferred Compensation, Insider Transaction, SEC Form 4, Beneficial Ownership