Verizon CEO Acquires Phantom Stock via Deferred Compensation Plan

Verizon Communications Inc. ($VZ) Form 4 Analysis

Executive Summary On September 28, 2026, a Form 4 was filed for Daniel H. Schulman, Chief Executive Officer and Director of Verizon Communications Inc. The transaction, dated September 24, 2026, involves the acquisition of 197.029 units of unitized phantom stock at an effective price of $13.51 per unit, totaling approximately $2,661.86.

Transaction Overview

• Security: Phantom Stock (unitized), representing underlying common stock economically settled in cash.
• Transaction Code: 'A' (Grant, award, or other acquisition pursuant to a plan).
• Nature of Ownership: Indirect, held through a Deferred Compensation Plan.
• Post-Transaction Position: 9,605.986 units of phantom stock (which includes acquisitions through dividend reinvestments).

Market Impact & Significance This transaction carries Low trading significance. It represents a routine deferred compensation allocation rather than an open-market purchase or discretionary stock acquisition. Small-scale programmatic acquisitions via company benefit or deferred compensation plans do not typically indicate material shifts in executive sentiment.