OTIS CLARENCE JR 4

What Happened Otis Clarence Jr, a director of Verizon Communications (VZ), received a grant of 5,062 phantom shares (derivative award) on April 1, 2026. The Form 4 reports the acquisition at $0.00 per share (derivative), so no cash purchase occurred. These phantom shares are cash-settled and become payable following the director's termination of service.

Key Details

• Transaction date: 2026-04-01; Filing date (Form 4): 2026-04-02 (filed one day after the grant).
• Reported transaction: Grant/award (code A) of 5,062 phantom shares at $0.00 per share; reported dollar amount $0 (derivative).
• Shares owned after transaction: not specified in the provided summary of the filing.
• Footnotes: (F1) Each phantom share equals the economic equivalent of one common share and is settled in cash after the reporting person's termination. (F2) The amount includes phantom stock acquired through dividend reinvestment.
• Timeliness: Filing appears timely (submitted the day after the transaction).

Context This was an equity award (phantom stock) for a director rather than an open-market purchase or sale; such awards are part of compensation and do not necessarily signal immediate buying or selling intent. Because the award is cash-settled, its ultimate value will depend on Verizon’s stock price when the phantom shares vest/payable.