Venkatesh Vandana 4

What Happened

• Venkatesh Vandana, Executive Vice President and Chief Legal Officer of Verizon Communications Inc. (VZ), received an award of 99.684 phantom shares on 2026-06-04. The filing values the award at $12.81 per share, for a total economic value of about $1,277. This transaction is reported as an award/acquisition of a derivative (transaction code A) rather than an open-market purchase of common stock.

Key Details

• Transaction date and filing: Transaction dated 2026-06-04; Form 4 filed 2026-06-05 (appears timely).
• Price and value: 99.684 phantom shares × $12.81 = ~$1,277.
• Security type: Derivative (phantom stock units), cash-settled — not issuance of actual common shares.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: (1) Each phantom share is the economic equivalent of a portion of one common share and is settled in cash; payable upon events per the deferred compensation plan. (2) Amount includes phantom stock acquired through dividend reinvestment.

Context

• Phantom stock units grant economic exposure to the company’s share value but do not confer voting rights or immediate common-stock ownership; settlement is in cash under the deferred compensation plan. Such awards are routine forms of executive compensation and do not by themselves indicate a buy/sell signal in the market.