Form 4: Verizon Executive Acquires Phantom Stock

Verizon's EVP and Group CEO-VZ Business, Kyle Malady, acquired 152.235 units of phantom stock through a deferred compensation plan.

Summary

• Kyle Malady, Executive Vice President and Group CEO-VZ Business at Verizon Communications Inc. (VZ), acquired 152.235 units of phantom stock.
• The transaction occurred on November 6, 2025, at a price of $11.37 per phantom stock unit.
• Phantom stock units are the economic equivalent of a portion of one share of common stock and are settled in cash.
• The acquisition was made indirectly through a deferred compensation plan.
• Following this transaction, Kyle Malady beneficially owns 396,057.461 units of phantom stock, which includes units acquired through dividend reinvestment.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged purchase.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by an executive, especially through a deferred compensation plan, generally indicates a positive long-term outlook and alignment of interests. It's a routine compensation event rather than a significant market-moving transaction.

Positives

• An executive acquiring additional phantom stock can signal confidence in the company's future performance.
• The transaction is part of a deferred compensation plan, aligning executive interests with long-term company value.

Future Outlook

The acquisition of phantom stock, particularly through a deferred compensation plan, suggests a long-term alignment of executive interests with the company's future performance, as the phantom stock becomes payable upon events established by the reporting person. The future transaction date indicates a pre-planned acquisition.

Industry Context

This is an insider transaction, a common occurrence across all industries. It reflects an executive's compensation structure and personal investment strategy within the telecommunications sector, rather than a direct commentary on broader industry trends or competitors.

Comparison to Industry Standards

• Executive compensation plans, including deferred compensation and phantom stock, are standard practices across large corporations, including those in the telecommunications industry such as AT&T, T-Mobile, and Comcast.
• The use of Rule 10b5-1 plans for insider transactions is a common mechanism to avoid accusations of insider trading by pre-scheduling trades.

Stakeholder Impact

• Shareholders: The executive's increased beneficial ownership of phantom stock aligns their interests with long-term shareholder value.

Next Steps

• Phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of phantom stock by an executive as part of a deferred compensation plan, pre-scheduled under a Rule 10b5-1 plan. While it signals executive confidence and aligns interests, it is not a significant market-moving event that would warrant a change in investment recommendation based solely on this filing. The transaction is expected and part of normal compensation practices.

Keywords

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