Form 4: Verizon SVP Acquires Phantom Stock in Compensation Plan

Verizon's SVP and Controller, Mary-Lee Stillwell, acquired 52.016 units of phantom stock through a deferred compensation plan.

Summary

• Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc. (VZ), reported an acquisition of phantom stock.
• The transaction involved acquiring 52.016 units of phantom stock on January 15, 2026.
• Each phantom stock unit was valued at $11.24.
• Following this transaction, Mary-Lee Stillwell beneficially owns a total of 13,135.774 phantom stock units.
• The phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash.
• These units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• The reported beneficial ownership includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: This is a routine insider transaction related to executive compensation, indicating continued alignment of executive interests with shareholders through equity-linked instruments. It is generally neutral to slightly positive.

Positives

• The acquisition of phantom stock by a senior executive indicates continued participation in the company's equity-linked compensation program, aligning executive interests with shareholder value.

Future Outlook

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

Industry Context

This transaction reflects a standard executive compensation practice within large, publicly traded corporations, where equity-linked instruments like phantom stock are used to align management incentives with long-term company performance.

Comparison to Industry Standards

• The use of phantom stock as part of a deferred compensation plan is a common practice among S&P 500 companies, including major telecommunications firms, to provide executives with equity exposure without direct share ownership, often for tax or deferral purposes.
• This mechanism is comparable to similar plans at companies like AT&T or T-Mobile, where executives can defer compensation into units that track the company's stock performance.

Related Party Transactions

• The acquisition of phantom stock by an officer of Verizon Communications Inc. from the company's deferred compensation plan constitutes a related party transaction in the context of executive compensation.

Stakeholder Impact

• Shareholders: The transaction is a routine compensation event and is unlikely to have a significant direct impact on shareholders, but it reinforces the alignment of executive incentives with company performance.
• Employees: Reflects standard executive compensation practices within the company.

Next Steps

• The phantom stock units will become 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 a company officer as part of a deferred compensation plan. It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. It primarily indicates continued executive participation in equity-linked compensation, which is generally a neutral to slightly positive signal for long-term alignment.

Keywords

Verizon, VZ, Form 4, Insider Transaction, Phantom Stock, Deferred Compensation, Executive Compensation, Mary-Lee Stillwell