SCHULMAN DANIEL H 4

What Happened

• Daniel H. Schulman, CEO and Director of Verizon Communications Inc. (VZ), was granted 221.905 shares of phantom stock on July 1, 2026. The reported per-share value for the award was $11.99, for a total reported value of $2,661. This was an award/grant (derivative cash-settled phantom stock), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-01; filing date: 2026-07-06.
• Instrument/Type: Award/Grant of phantom stock (derivative, code A).
• Quantity & price: 221.905 phantom shares at $11.99 each; total reported value $2,661.
• Settlement: Phantom shares are cash-settled (see footnote F1) and become payable per the reporting person’s deferred compensation plan.
• Footnotes: F1 — each phantom share equals the economic equivalent of a portion of one common share and is settled in cash; F2 — amount includes phantom stock acquired through dividend reinvestment.
• Shares owned after transaction: Not specified in the provided filing.
• Timeliness: Filing shows the report date as July 6 for a July 1 transaction (filed 5 days after the transaction), which is later than the standard Form 4 requirement of reporting within two business days.

Context

• Phantom stock awards are deferred-compensation awards settled in cash and do not involve issuance of actual common shares; they are different from stock purchases or option exercises and do not by themselves indicate a buy/sell market signal. The reported value here is modest (~$2.7k) relative to typical executive compensation.