Vestberg Hans Erik 4

What Happened

Hans Erik Vestberg, a director of Verizon Communications Inc. (VZ), was granted 188.658 phantom shares (a derivative award) on 2026-02-12. The award is reported at an imputed price of $14.11 per share, for a total notional value of about $2,662. This was an award/acquisition (code A) of cash‑settled phantom stock rather than an open‑market purchase of common shares.

Key Details

• Transaction date: 2026-02-12; Filing date (Form 4): 2026-02-17.
• Transaction type/code: Award/Acquisition (A) — derivative (phantom stock).
• Amount: 188.658 phantom shares at $14.11 per share (total ≈ $2,662).
• Shares owned after transaction: Not specified in the provided filing summary.
• Footnotes:
  • F1: Each phantom share is the economic equivalent of a portion of one share of common stock and is settled in cash; payouts occur upon events designated in Vestberg’s deferred compensation plan.
  • F2: The reported phantom shares include amounts acquired through dividend reinvestment.
• No explicit late‑filing indicator was provided in the summary data.

Context

Phantom stock is a cash‑settled derivative that tracks the value of common shares but does not transfer actual shares to the insider; payouts occur per the deferred compensation plan’s terms. Such compensation grants are routine for directors and reflect pay arrangements rather than direct buying or selling that signals personal investment conviction.