Form 4: Verizon SVP adds phantom stock via deferral plan

Verizon’s SVP and Controller, Mary-Lee Stillwell, acquired 40.402 cash-settled phantom stock units at $14.47 in the deferred compensation plan, lifting her total to 16,133.677 units.

Summary

• On 2026-03-26, SVP and Controller Mary-Lee Stillwell reported acquiring 40.402 phantom stock (unitized) derivative units under Verizon’s Deferred Compensation Plan (transaction code “A”).
• Price of the derivative security was $14.47 per unit.
• Indirect ownership via the Deferred Compensation Plan; phantom stock is cash-settled and economically equivalent to a portion of a share; amounts become payable upon events designated by the reporting person under the plan.
• Total phantom stock units beneficially owned after the transaction: 16,133.677.
• Holdings figures include units acquired through dividend reinvestment.
• The derivative line lists 12 shares of common stock as the amount of securities underlying the phantom stock.
• A Power of Attorney was executed on 2026-03-26 authorizing designated attorneys-in-fact to handle Section 16/EDGAR matters; the Form 4 was signed on 2026-03-30.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine administrative insider transaction with no bearing on near-term fundamentals.

Positives

• Cash-settled phantom stock implies no direct share issuance or dilution to common shareholders.
• Ongoing participation in long-term deferred compensation aligns executive interests with shareholder value over time.

Negatives

• Small, administrative insider transaction provides limited insight into operating performance or valuation.
• Cash-settled phantom stock represents a future cash obligation for the company, albeit immaterial at this scale.

Future Outlook

No forward-looking statements or financial guidance were provided; this is a routine insider holdings update tied to deferred compensation.

Industry Context

StockSavvy.ai notes this is a routine Section 16 deferred compensation update common among large-cap telecom peers; cash-settled phantom stock accruals and dividend reinvestments are standard administrative activity with minimal valuation impact.

Comparison to Industry Standards

• Comparable to executive deferred compensation practices at AT&T (T), Comcast (CMCSA), and T-Mobile (TMUS), where phantom stock or unitized plan credits are routinely reported via Form 4.
• Cash-settled design is standard for many large-cap plans to avoid dilution, aligning with common governance norms in the telecom and broader S&P 500 universe.
• The reported acquisition (40.402 units) is de minimis and typical of periodic deferrals or dividend reinvestments, consistent with peer administrative transactions.

Corporate Governance

Stakeholder Impact

• Shareholders: No dilution since the phantom stock is cash-settled; impact is negligible.
• Employees/Executives: Reinforces the use of the company’s deferred compensation mechanisms.
• Creditors: Minimal additional cash-settled obligation; immaterial to credit profile.

Next Steps

• Phantom stock will be settled in cash upon specified events under the deferred compensation plan, as designated by the reporting person.

Key Dates

Keywords

Verizon Communications, VZ, Form 4, insider transaction, phantom stock, deferred compensation plan, Section 16, beneficial ownership, Power of Attorney, EX-24, EDGAR