Verizon EVP Acquires Phantom Stock via Deferred Compensation Plan

Executive Summary

On September 28, 2026, Verizon Communications Inc. ($VZ) filed a Form 4 disclosing a transaction by Kyle Malady, EVP and Group CEO-VZ Business. On September 24, 2026, the reporting person acquired 128.695 unitized phantom stock units at an effective price of $13.51 per unit, representing a total transaction value of approximately $1,738.67.

Transaction Breakdown

• Security: Phantom Stock (unitized), convertible to cash and economically equivalent to a portion of common stock.
• Transaction Type: Acquisition (Code A) via a deferred compensation plan.
• Volume: 128.695 units (underlying 37 shares of common stock).
• Price per Unit: $13.51.
• Post-Transaction Beneficial Ownership: 424,512.359 units held indirectly via the Deferred Compensation Plan.

Market and Trading Impact

This filing reflects routine elective deferrals or employer allocations within Verizon's executive deferred compensation plan rather than an open-market trade. Given the derivative structure, small dollar volume, and standard plan-based nature of the acquisition, this filing carries minimal predictive signaling for investors.