Malady Kyle 4

What Happened
Kyle Malady, EVP and Group CEO–VZ Business, was granted 152.942 units of phantom stock under Verizon’s deferred compensation plan on January 29, 2026. The filing values each unit at $11.37 for a total reported value of $1,739. This was an award/grant of a derivative instrument (phantom stock), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-01-29
• Transaction type: Award/Grant (code A) — phantom stock (derivative)
• Units received: 152.942; per‑unit value: $11.37; total value: $1,739 (reported)
• Settlement: Cash‑settled phantom stock (per footnote F1)
• Dividend treatment: Includes phantom stock acquired through dividend reinvestment (footnote F2)
• Shares owned after transaction: Not disclosed in the provided report
• Filing date: 2026-01-30 (filed the next day) — appears timely
• No indication in this filing of a 10b5-1 plan, tax withholding, or immediate sale

Context
Phantom stock is a deferred‑compensation derivative that tracks the economic value of common shares but is paid in cash according to plan rules; it does not transfer actual Verizon common stock at grant. Such awards are routine compensation actions and should not be interpreted the same way as open‑market purchases (which can signal direct insider confidence).