Form 4: Verizon EVP Malady Acquires Phantom Stock

Verizon's EVP and Group CEO, Kyle Malady, acquired 150.031 phantom stock units valued at $11.54 each through a deferred compensation plan, increasing his indirect beneficial ownership to 396,503.197 units.

Summary

• Kyle Malady, EVP and Group CEO-VZ Business at Verizon Communications Inc. (VZ), acquired 150.031 phantom stock units.
• The transaction occurred on December 18, 2025, and was made pursuant to a Rule 10b5-1(c) plan.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The acquisition price for the phantom stock was $11.54 per unit.
• Following this transaction, Malady indirectly beneficially owns a total of 396,503.197 phantom stock units through a deferred compensation plan.
• The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan and include units acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: Slightly positive as it indicates an executive's continued accumulation of equity-linked compensation, aligning their interests with the company's performance, albeit through phantom stock rather than direct equity.

Positives

• The acquisition of phantom stock by a key executive, Kyle Malady, indicates continued alignment of management's interests with shareholder value.
• The transaction was executed under a Rule 10b5-1(c) plan, suggesting a pre-planned and systematic approach to compensation and equity accumulation.

Negatives

• The acquired securities are phantom stock, which are settled in cash and do not represent direct ownership of common stock, limiting direct voting rights or immediate market liquidity.

Risks

• The value of the phantom stock is tied to the performance of Verizon's common stock, meaning a decline in VZ's share price would negatively impact the value of these units.
• Phantom stock units are settled in cash, which may expose the holder to different tax implications compared to direct equity ownership.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction, as it is an insider transaction report.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, common across publicly traded companies. It reflects standard executive compensation practices involving equity-linked incentives, which are prevalent in the telecommunications industry to align executive interests with long-term company performance.

Stakeholder Impact

• Shareholders: May view the executive's increased beneficial ownership of phantom stock as a positive sign of management's commitment and alignment with long-term company value.

Key Dates

Keywords

Verizon, VZ, Kyle Malady, Insider Transaction, Form 4, Phantom Stock, Deferred Compensation, Executive Compensation, Rule 10b5-1, Beneficial Ownership