Form 4: Verizon Executive Acquires Phantom Stock

Verizon Communications Inc. reports a transaction where CEO Daniel H. Schulman acquired phantom stock units.

Summary

• Daniel H. Schulman, CEO of Verizon Communications Inc., acquired 193.239 phantom stock units on May 21, 2026.
• These phantom stock units are the economic equivalent of a portion of one share of common stock and will be settled in cash.
• The phantom stock units become payable upon events established by Mr. Schulman in accordance with the deferred compensation plan.
• The acquisition includes phantom stock acquired through dividend reinvestment.
• Following this transaction, Mr. Schulman beneficially owns 7,669.578 phantom stock units, held indirectly through a Deferred Compensation Plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine insider transaction related to executive compensation rather than a significant operational or financial event.

Positives

• The transaction indicates continued investment and participation in the company's equity-equivalent plans by the CEO.
• Acquisition of phantom stock through dividend reinvestment suggests ongoing accumulation of value tied to the company's performance.

Negatives

• The filing does not contain any negative financial results or operational setbacks.

Risks

• The value of phantom stock is tied to the performance of Verizon's common stock, meaning any decline in share price would reduce the value of these units.
• The payout of phantom stock is contingent on specific events established by the reporting person, introducing timing uncertainty.
• Phantom stock is settled in cash, which could have implications for the company's liquidity depending on the scale of payouts.

Future Outlook

The filing does not contain specific forward-looking statements or guidance. The future value of the phantom stock is dependent on the company's stock performance and the terms of the deferred compensation plan.

Management Comments

• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• Includes phantom stock acquired through dividend reinvestment.

Industry Context

StockSavvy.ai notes that the use of phantom stock and deferred compensation plans is a common practice among large telecommunications companies like Verizon to incentivize and retain executive leadership by aligning their interests with shareholders.

Stakeholder Impact

• Shareholders: The transaction itself does not directly impact share price but reflects executive commitment. The value of the phantom stock is tied to share performance.
• Employees: The use of phantom stock and deferred compensation plans is a standard executive compensation tool.
• Management: The CEO's acquisition of phantom stock aligns his financial interests with long-term company performance.

Next Steps

• Phantom stock units will become payable upon events established by the reporting person.
• Continued monitoring of Verizon's stock performance will be relevant to the value of these units.

Key Dates

Keywords

Verizon Communications, VZ, Form 4, Insider Trading, Phantom Stock, Deferred Compensation, CEO, Daniel H. Schulman, Equity