Form 4: Verizon Executive Acquires Phantom Stock in Compensation Plan

Verizon's EVP-Public Policy & Chief Legal Officer, Vandana Venkatesh, acquired 115.73 units of phantom stock as part of a deferred compensation plan.

Summary

• Vandana Venkatesh, EVP-Public Policy & Chief Legal Officer of Verizon Communications Inc., acquired 115.73 units of phantom stock on October 23, 2025.
• Each phantom stock unit was acquired at a price of $10.97.
• The filing indicates that each phantom stock unit is equivalent to 33 shares of Verizon common stock, though an accompanying explanation states that each unit is the economic equivalent of a portion of one share of common stock.
• Based on the table's numerical data, the acquired phantom stock has a total value of $1,269.69 and is equivalent to 3,819.09 shares of common stock.
• The phantom stock is held indirectly through a deferred compensation plan and becomes payable upon events established by the reporting person.
• Following this transaction, Venkatesh beneficially owns a total of 46,733.954 units of phantom stock, which includes units acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: A routine insider transaction reporting the acquisition of phantom stock as part of an executive's compensation plan, which is generally neutral in sentiment.

Positives

• Acquisition of 115.73 units of phantom stock by a key executive, indicating continued participation in the company's long-term incentive plans.
• The phantom stock is part of a deferred compensation plan, aligning executive interests with long-term company performance.
• The total beneficial ownership of 46,733.954 phantom stock units demonstrates a significant stake in the company's future.

Future Outlook

The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan, indicating a long-term incentive structure tied to future events.

Industry Context

This is a routine insider transaction for executive compensation, common across publicly traded companies, particularly for senior leadership. It reflects standard practices for aligning executive incentives with shareholder value over time within the telecommunications industry.

Comparison to Industry Standards

• This type of phantom stock acquisition as part of a deferred compensation plan is a standard component of executive compensation packages in large telecommunications companies like AT&T, T-Mobile, and Comcast.
• It aims to retain key talent and align their financial interests with the company's long-term performance, similar to how other industry leaders structure their executive incentives.

Stakeholder Impact

• Shareholders: Minor positive impact from executive incentive alignment, but no direct financial impact from this routine transaction.
• Employees: No direct impact mentioned.
• Management: Continued alignment of executive compensation with company performance.

Key Dates

Keywords

Verizon, VZ, Vandana Venkatesh, phantom stock, deferred compensation, executive compensation, SEC Form 4, insider transaction