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VERIZON COMMUNICATIONS INC·4

Mar 3, 12:35 PM ET

Venkatesh Vandana 4

Research Summary

AI-generated summary

Updated

Verizon (VZ) EVP Venkatesh Vandana Receives RSUs; Shares Withheld

What Happened

  • Venkatesh Vandana, Executive Vice President and Chief Legal Officer of Verizon, had Restricted Stock Units (RSUs) convert to 47,948 shares on Feb 27, 2026. To cover tax withholding, 24,306 of those shares were surrendered (reported as dispositions) at $50.14 per share, generating proceeds/value of $1,218,703.
  • Breakdown by tranche:
    • 14,884 RSUs vested → 7,264 shares withheld for taxes at $50.14 = $364,217
    • 16,997 RSUs vested → 8,295 shares withheld for taxes at $50.14 = $415,911
    • 16,067 RSUs vested → 8,747 shares withheld for taxes at $50.14 = $438,575
  • These entries reflect conversion/vesting of RSUs (derivative exercise/conversion) and share withholding to satisfy tax obligations — administrative actions rather than open-market sales.

Key Details

  • Transaction date: February 27, 2026; Form 4 filed March 3, 2026 (timely).
  • Prices reported for withheld/disposed shares: $50.14 per share; exercise/conversion entries show N/A for exercise price (typical for RSU vesting).
  • Shares acquired via conversion: 47,948 total; shares disposed (withheld for taxes): 24,306 total.
  • Shares owned after the transactions: Not specified in the provided excerpt of the filing.
  • Footnotes: F1–F4 indicate each RSU converts to one share on the payment date and reference vesting schedules (three equal annual installments beginning March 1, 2024; March 1, 2025; and March 1, 2026) as applicable.
  • Transaction codes: M = exercise/conversion of derivative (RSU vesting); F = payment of exercise price or tax liability (share withholding).

Context

  • These transactions are routine administrative actions when RSUs vest: the RSUs converted to shares and a portion of shares was withheld to cover tax withholding rather than being sold on the open market. This does not necessarily indicate a discretionary sale by the insider.
  • For retail investors, purchases or open-market sales by insiders often carry clearer sentiment signals; RSU vesting and withholding are primarily compensation and tax events.