Malady Kyle 4

What Happened

• Kyle Malady, EVP and Group CEO — VZ Business at Verizon Communications (VZ), received an award of 138.74 phantom shares on July 16, 2026. The grant is reported as a derivative award (code A) at an effective price of $12.53 per share, with a total economic value of roughly $1,738. This was an award/compensation grant rather than a market purchase or sale.

Key Details

• Transaction date: 2026-07-16; Filing date: 2026-07-17 (timely).
• Award details: 138.74 phantom shares × $12.53 = ~$1,738 (derivative, code A).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: F1 — each phantom share is an economic equivalent to a portion of one common share and is settled in cash per the deferred compensation plan; F2 — amount includes phantom stock acquired via dividend reinvestment.
• Filing appears timely (no late‑filing indication).

Context

• Phantom stock is a cash‑settled equity substitute; it provides economic exposure to company stock without issuing actual shares. Payments become payable under conditions set by the reporting person’s deferred compensation plan. Because this is a compensation award (not an open‑market purchase), it should be viewed as routine executive compensation rather than a direct bullish purchase signal.