Verizon CEO Daniel H. Schulman Receives Phantom Stock Award

What Happened

• Daniel H. Schulman, CEO and Director of Verizon Communications Inc. (VZ), was granted 207.776 shares of phantom stock (derivative award) on 2026-06-04. The award is recorded at $12.81 per share for a total economic value of $2,662. This was an award/acquisition (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-06-04; Filing date: 2026-06-05 (timely filing).
• Instrument: Phantom stock (derivative), 207.776 units @ $12.81 = $2,662 (reported as an acquisition).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 — Each phantom share is the economic equivalent of a portion of one common share and is settled in cash per the deferred compensation plan; payable upon events elected under that plan. F2 — Includes phantom stock acquired through dividend reinvestment.
• No indication of a 10b5-1 plan, cashless exercise, gift, or tax‑withholding event in this filing.

Context

• This transaction is an award of phantom (cash‑settled) stock under a deferred comp plan, which is different from buying or selling common shares; it provides economic exposure but will be settled in cash per plan rules. Such awards are routine components of executive compensation and do not by themselves indicate a change in the insider’s sentiment about the company.