Narasimhan Laxman 4

What Happened

• Narasimhan Laxman, a director of Verizon Communications Inc. (VZ), was granted 5,062 phantom shares (a derivative award) on 2026-04-01. The award is reported at $0.00 per share (acquisition code A) and is a cash‑settled phantom stock grant rather than a purchase of common stock.

Key Details

• Transaction date: 2026-04-01; Form 4 filed: 2026-04-02 (timely filing).
• Award: 5,062 phantom shares; reported price: $0.00 (derivative award).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — each phantom share equals the economic equivalent of one common share and will be settled in cash; payable following the reporting person’s termination of service. F2 — the total includes phantom stock acquired via dividend reinvestment.
• Remarks: Exhibit 24 (Power of Attorney) included.

Context

• This was an award/grant (not an open‑market purchase or sale). Phantom stock is a deferred, cash‑settled benefit and does not represent immediate ownership of common shares or an open‑market investment by the director. Such awards are typically part of director compensation and should be viewed as compensation disclosure rather than a direct bullish or bearish trading signal.