Form 4: Verizon EVP Acquires Phantom Stock via Deferred Plan

Verizon's EVP & Chief HR Officer, Samantha Hammock, acquired 77.876 phantom stock units through a deferred compensation plan, including dividend reinvestment.

Summary

• Samantha Hammock, Executive Vice President and Chief HR Officer of Verizon Communications Inc. (VZ), acquired 77.876 phantom stock units.
• The transaction occurred on September 11, 2025, as part of a deferred compensation plan and included 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 acquired 77.876 phantom stock units are equivalent to 22 shares of Verizon common stock.
• The price of each derivative security (phantom stock unit) was $12.59, totaling approximately $979.29 for the acquisition.
• Following this transaction, Hammock beneficially owns 28,184.064 phantom stock units indirectly through the deferred compensation plan.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary acquisition of phantom stock by an executive as part of a deferred compensation plan and dividend reinvestment. It does not indicate any significant positive or negative strategic shifts or financial performance.

Positives

• The acquisition demonstrates continued participation by an executive in the company's deferred compensation and dividend reinvestment plans, aligning executive interests with shareholder value over the long term.

Negatives

• No significant negative aspects are indicated by this routine, non-discretionary transaction.

Future Outlook

The filing does not provide specific forward-looking statements or guidance beyond the future transaction date of September 11, 2025.

Industry Context

This transaction represents a routine executive compensation event, common in large, established corporations. Phantom stock plans and deferred compensation are standard mechanisms used to align executive incentives with long-term company performance and retain key talent within the telecommunications industry.

Comparison to Industry Standards

• The use of phantom stock as part of executive compensation and deferred compensation plans is a common practice across large, publicly traded companies, including peers in the telecommunications sector such as AT&T (T) and T-Mobile (TMUS).
• Dividend reinvestment into such plans is also a standard feature, allowing executives to accumulate additional equity equivalents without direct cash outlays.
• The relatively small size of this specific acquisition suggests it is a non-discretionary, scheduled event (e.g., quarterly dividend reinvestment) rather than a significant, strategic personal investment decision by the executive.

Related Party Transactions

• The acquisition of phantom stock units by an executive from the company as part of a deferred compensation plan is a standard related-party transaction for executive compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact due to the routine and small nature of the transaction. It may be viewed as a minor positive for executive alignment.
• Employees: No direct impact indicated.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary acquisition of phantom stock by an executive through a deferred compensation plan and dividend reinvestment. The transaction value is small and does not signal any material change in the company's financial health, strategic direction, or the executive's confidence that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as this filing provides no new information to alter an existing investment thesis.

Keywords

Verizon, VZ, Samantha Hammock, Phantom Stock, Deferred Compensation, Dividend Reinvestment, Executive Compensation, Insider Transaction, SEC Form 4