Christine M. Pambianchi - Jul 8, 2021 Form 4 Insider Report for VERIZON COMMUNICATIONS INC (VZ)

Role
EVP & Chief HR Officer
Signature
Brandon N. Egren, Attorney-in-fact for Christine M. Pambianchi
Stock symbol
VZ
Transactions as of
Jul 8, 2021
Transactions value $
-$946,165
Form type
4
Date filed
7/12/2021, 08:15 AM
Previous filing
Jun 28, 2021
Next filing
Jul 26, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VZ Common Stock Options Exercise +33.3K +157.46% 54.4K Jul 8, 2021 Direct F1
transaction VZ Common Stock Tax liability -$947K -17K -31.28% $55.68 37.4K Jul 8, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VZ Restricted Stock Units - 2019-2022 Award Cycle Options Exercise -33.3K -50% 33.3K Jul 8, 2021 Common Stock 33.3K Direct F1, F2
transaction VZ Phantom Stock (unitized) Award $1.12K +70.6 +0.62% $15.84 11.4K Jul 8, 2021 Common Stock 20 By Deferred Compensation Plan F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit (RSU) represents the right to receive one share of common stock on the payment date with respect to the date that the RSU vests.
F2 Subject to the terms of the RSU Agreement, the RSUs vest in three equal annual installments beginning on July 8, 2020.
F3 Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash. The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
F4 Includes phantom stock acquired through dividend reinvestment.