Verizon (VZ) Director Hans Vestberg Receives 198 Phantom Shares

What Happened Hans Erik Vestberg, a director of Verizon Communications Inc. (VZ), was granted 198.052 phantom shares (a derivative, cash‑settled award) on May 7, 2026. The award is reported at an economic value of $13.44 per phantom share, for a total reported value of $2,662. This was an award/acquisition (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-05-07; Report filed: 2026-05-11 (four days after the transaction). Filing may be later than the usual 2-business-day Form 4 deadline.
• Consideration: 198.052 phantom shares @ $13.44 each; total reported value $2,662.
• Shares owned after transaction: Not disclosed in the filing.
• Transaction type: Derivative award (phantom stock); code A (award/acquisition).
• Footnotes:
  • The phantom shares are economic equivalents of common stock and are settled in cash under the deferred compensation plan (F1).
  • The reported phantom shares include amounts acquired through dividend reinvestment (F2).

Context Phantom stock awards are a form of deferred compensation settled in cash and do not transfer actual common shares to the insider; they are typically routine compensation rather than an immediate bullish market signal.