Form 4: Verizon SVP Stillwell Acquires Phantom Stock

Verizon's SVP and Controller, Mary-Lee Stillwell, acquired 46.638 phantom stock units, increasing her indirect beneficial ownership to 12,514.353 units.

Summary

• Mary-Lee Stillwell, SVP and Controller of Verizon Communications Inc., acquired 46.638 phantom stock units on September 25, 2025.
• Each phantom stock unit is the economic equivalent of approximately 0.2787 shares of Verizon common stock and is settled in cash.
• The acquired 46.638 phantom stock units represent an underlying interest in 13 shares of Verizon common stock.
• The transaction price for the derivative security was $12.37 per phantom stock unit.
• These phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• Following this acquisition, Stillwell's indirect beneficial ownership in phantom stock units totals 12,514.353, which includes units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a senior executive indicates confidence in the company's future and aligns management's interests with long-term shareholder value, which is generally a positive signal.

Positives

• An executive increasing their holdings, even through a compensation plan, can signal confidence in the company's future performance.
• Participation in a deferred compensation plan aligns executive interests with long-term shareholder value.

Future Outlook

N/A

Industry Context

Insider acquisitions, especially through compensation plans, are common across industries. For telecommunications, executive compensation often includes equity-linked incentives to align with long-term performance.

Stakeholder Impact

• Shareholders may view the executive's increased equity holdings as a positive indicator of management's long-term commitment and confidence in Verizon's performance.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of phantom stock units by a senior executive as part of a deferred compensation plan. While it signals management confidence, the transaction size and nature are not significant enough to alter the fundamental investment thesis for Verizon, thus a 'hold' recommendation remains appropriate based solely on this filing.

Keywords

Verizon, VZ, SEC Form 4, insider trading, phantom stock, executive compensation, deferred compensation, Mary-Lee Stillwell