Form 4: Verizon Legal Chief Acquires Phantom Stock Units

Verizon's EVP and Chief Legal Officer, Vandana Venkatesh, acquired 110.022 phantom stock units through a deferred compensation plan.

Summary

• Vandana Venkatesh, Executive Vice President and Chief Legal Officer of Verizon Communications Inc., acquired 110.022 phantom stock units.
• The transaction occurred on December 18, 2025, and was reported on December 19, 2025.
• The phantom stock units were acquired indirectly through a deferred compensation plan.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• The acquisition price for the derivative security was $11.54 per unit.
• Following this transaction, Ms. Venkatesh beneficially owns a total of 47,980.258 phantom stock units, which includes units acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates an executive's continued participation in the company's equity-linked compensation plan, aligning their interests with the company's performance. It is a routine transaction, so the impact is not highly significant.

Positives

• The acquisition of phantom stock units represents an increase in the executive's equity-linked compensation, aligning her interests with shareholder value.
• The transaction is part of a deferred compensation plan, indicating a structured approach to executive remuneration.

Industry Context

This is a routine insider transaction related to executive compensation and does not directly reflect broader industry trends or competitive positioning. It is a standard mechanism for aligning executive incentives with company performance in the telecommunications sector.

Comparison to Industry Standards

• Executive compensation plans involving phantom stock or similar equity-linked instruments are common across large publicly traded companies, including those in the telecommunications industry like AT&T or T-Mobile, as a means to retain talent and align management interests with long-term shareholder value.

Stakeholder Impact

• Shareholders: The transaction aligns executive incentives with shareholder interests, as phantom stock value is tied to common stock performance.
• Employees: No direct impact on general employees is indicated by this filing.
• Management: The executive's compensation package is enhanced, potentially increasing retention and motivation.

Key Dates

Keywords

Verizon, VZ, Phantom Stock, Deferred Compensation, Insider Transaction, Executive Compensation, SEC Form 4, Vandana Venkatesh