Form 4: Verizon Executive Kyle Malady Reports Phantom Stock Acquisition

EVP and Group CEO of Verizon Business, Kyle Malady, reports acquisition of phantom stock units through a deferred compensation plan.

Summary

• On March 13, 2025, Kyle Malady, EVP and Group CEO-VZ Business at Verizon Communications Inc., acquired 138.791 units of phantom stock.
• The acquisition was made through a deferred compensation plan.
• Each share of phantom stock is the economic equivalent of one share of common stock and is settled in cash upon events established by the reporting person.
• Following the transaction, Malady beneficially owns 375,074.484 units of phantom stock, including those acquired through dividend reinvestment.
• The price of the phantom stock was $12.47.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation, indicating a neutral sentiment.

Future Outlook

The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

Executive compensation packages often include phantom stock as a way to align executive interests with shareholder value, providing a cash payout equivalent to stock appreciation without diluting existing shares.

Comparison to Industry Standards

• Executive compensation packages vary widely across the telecommunications industry.
• Companies like AT&T and T-Mobile also utilize stock options, restricted stock units, and performance-based bonuses in their executive compensation plans.
• The prevalence of phantom stock is common, but the specific terms and conditions, such as vesting schedules and payout triggers, can differ significantly based on company performance and individual executive agreements.

Stakeholder Impact

• The acquisition of phantom stock by a key executive can signal confidence in the company's future performance to shareholders.
• The deferred compensation plan impacts the executive's long-term financial incentives.

Key Dates