Form 4: Verizon EVP Acquires Phantom Stock in Deferred Plan

Verizon's EVP and Chief Legal Officer, Vandana Venkatesh, acquired 5,899.235 phantom stock units through a deferred compensation plan.

Summary

• Vandana Venkatesh, Executive Vice President and Chief Legal Officer of Verizon Communications Inc. (VZ), acquired 5,899.235 phantom stock units.
• The transaction occurred on February 26, 2026, as part of a pre-planned deferred compensation arrangement.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The acquired phantom stock units have a price of $13.95 per unit.
• Following this acquisition, Ms. Venkatesh beneficially owns a total of 55,044.686 phantom stock units indirectly through a deferred compensation plan.
• The total beneficial ownership includes phantom stock units acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting a standard executive compensation transaction that aligns management's interests with the company's long-term performance without indicating any immediate operational or financial shifts.

Positives

• The acquisition of phantom stock units indicates continued participation by a key executive in the company's long-term incentive and deferred compensation plans, aligning executive interests with shareholder value over time.

Negatives

• No direct negative implications are apparent from this routine compensation-related transaction.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the nature of the deferred compensation plan, which implies future cash settlement based on established events.

Industry Context

StockSavvy.ai notes that executive compensation, including deferred plans and phantom stock, is a standard practice across the telecommunications industry to retain talent and align executive incentives with long-term company performance. This transaction is consistent with typical executive compensation structures in large public companies.

Comparison to Industry Standards

• The use of phantom stock as a component of executive compensation is a common practice among S&P 500 companies, including major telecommunication peers like AT&T and T-Mobile, which often utilize similar equity-linked or cash-settled incentive plans to reward and retain senior leadership.
• The structure, where phantom stock is equivalent to a portion of common stock and settled in cash, is a flexible compensation tool, comparable to cash-settled stock appreciation rights (SARs) or restricted stock units (RSUs) found in other large-cap technology and telecom firms.

Stakeholder Impact

• Shareholders: This transaction represents a routine component of executive compensation, which is a cost to the company but also serves to align executive incentives with long-term shareholder value.
• Employees: No direct impact on general employees is indicated by this executive compensation filing.

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

Keywords

Verizon, VZ, Vandana Venkatesh, Phantom Stock, Deferred Compensation, Executive Compensation, Insider Transaction, SEC Form 4