Verizon (VZ) Director Charles E. Phillips Jr. Receives Award

What Happened

• Charles E. Phillips Jr., a director of Verizon Communications Inc. (VZ), received a grant of 1,770 phantom shares on 2026-09-25. The Form 4 reports the award at $0.00 per share (derivative award) and shows no immediate cash value recorded on the filing. This is an award/grant (not a market purchase or sale) and does not represent the acquisition of tradable common shares.

Key Details

• Transaction date: 2026-09-25; Form 4 filed: 2026-09-29 (timely filing).
• Transaction type/code: A — Award/Grant of derivative shares (phantom stock).
• Shares awarded: 1,770 phantom shares at $0.00 per share (reported value $0 on Form 4).
• Shares owned after transaction: not specified in the filing.
• Footnote: Each phantom share equals the economic equivalent of one common share and is settled in cash; payment becomes payable following the reporting person’s termination of service as a director (see footnote F1).
• No 10b5-1 plan, tax withholding, or immediate sale noted.

Context

• Phantom stock is a cash‑settled, derivative form of equity compensation: it tracks the economic value of common stock but does not confer voting rights or tradable shares and is typically paid in cash when certain conditions are met (here, upon termination of service). Such awards are common director compensation and do not necessarily indicate a buy/sell signal for investors.