Form 4: Verizon Executive Acquires Phantom Stock

Verizon Communications Inc. executive Alfonso Villanueva Rodriguez acquired 5,237.391 phantom stock units through a deferred compensation plan.

Summary

• Alfonso Villanueva Rodriguez, EVP & International Group CEO Verizon Consumer & CTO, acquired 5,237.391 phantom stock units.
• The transaction occurred on February 26, 2026.
• These phantom stock units are the economic equivalent of a portion of one share of common stock and are settled in cash.
• The units become payable upon events established by the reporting person under the deferred compensation plan.
• Following this transaction, the executive beneficially owns 5,786.854 phantom stock units indirectly through a deferred compensation plan.
• The total beneficial ownership includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine executive compensation event, slightly positive as it indicates continued executive alignment with company performance through a deferred compensation plan.

Positives

• The executive's increased beneficial ownership of phantom stock aligns their interests with shareholders.
• Participation in a deferred compensation plan indicates long-term commitment and strategic financial planning by the executive.

Risks

• The value of the phantom stock is tied to Verizon's common stock performance, exposing the executive to market fluctuations.
• Settlement in cash means the executive does not directly hold equity shares, which could be seen as a less direct alignment than actual stock ownership.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance beyond the nature of the phantom stock becoming payable upon future events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

StockSavvy.ai notes that executive compensation often includes various forms of equity-linked instruments like phantom stock, which are common in large corporations to align executive incentives with long-term company performance without immediate share issuance. This practice is prevalent across the telecommunications sector, where retaining top talent is crucial.

Comparison to Industry Standards

• The use of phantom stock in executive compensation is a standard practice among large-cap companies, including peers like AT&T and T-Mobile, which also utilize deferred compensation plans tied to company performance.
• The structure, where phantom stock is settled in cash and tied to common stock value, is a common mechanism to provide equity-like incentives without diluting existing shareholders through direct stock grants.

Related Party Transactions

• The transaction involves an executive's acquisition of phantom stock through a company-sponsored deferred compensation plan, which is a standard related-party transaction in the context of executive compensation.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock aligns executive interests with shareholder value creation, as the value of the phantom stock is tied to the common stock. No direct dilution from this specific transaction as it's cash-settled.

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

Recommendation

This Form 4 filing reports a routine executive compensation event involving phantom stock acquisition through a deferred compensation plan. It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The executive's increased beneficial ownership through this plan is a standard practice for aligning interests but does not present a compelling reason to alter an existing investment stance.

Keywords

Verizon, VZ, Phantom Stock, Insider Trading, Executive Compensation, Deferred Compensation, SEC Form 4, Alfonso Villanueva Rodriguez