Verizon EVP Venkatesh Vandana Receives Phantom Stock Award

What Happened

• Venkatesh Vandana, EVP and Chief Legal Officer of Verizon Communications (VZ), received an award of 94.528 derivative shares valued at $13.51 each for a total reported value of $1,277. The transaction is coded as an award/grant (A) and reflects phantom stock (a cash-settled deferred compensation vehicle), not a purchase of common shares.

Key Details

• Transaction date: 2026-09-24; Filing date: 2026-09-28 (filed within the required Form 4 timeframe).
• Price reported: $13.51 per phantom share; total reported value: $1,277.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 — Each phantom share is the economic equivalent of a portion of one common share and is settled in cash; payout occurs upon events set by the reporting person under the deferred compensation plan. F2 — Includes phantom stock acquired through dividend reinvestment.
• Transaction code: A (award/grant of derivative securities).

Context

• Phantom stock awards are a form of deferred compensation paid in cash and do not represent immediate ownership of common stock or a direct market purchase; they typically reflect compensation or retention incentives rather than a market sentiment signal.