Matthew D. Ellis - Mar 1, 2022 Form 4 Insider Report for VERIZON COMMUNICATIONS INC (VZ)

Role: EVP and CFO
Signature: Brandon N. Egren, Attorney-in-fact for Matthew D. Ellis
Stock symbol: VZ
Transactions as of: Mar 1, 2022
Transactions value $: -$451,235
Form type: 4
Date filed: 3/3/2022, 11:38 AM
Previous filing: Feb 28, 2022
Next filing: Mar 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VZ	Common Stock	Options Exercise		+16.5K	+18.83%		104K	Mar 1, 2022	Direct	F1
transaction	VZ	Common Stock	Tax liability	-$451K	-8.42K	-8.11%	$53.61	95.4K	Mar 1, 2022	Direct
holding	VZ	Common Stock						1.07K	Mar 1, 2022	By 401(k)

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 - 2021 Award	Options Exercise		-16.5K	-33.33%		32.9K	Mar 1, 2022	Common Stock	16.5K		Direct	F1, F2
transaction	VZ	Restricted Stock Units - 2022 Award	Award	$0	+52.2K		$0.00	52.2K	Mar 1, 2022	Common Stock	52.2K		Direct	F3

* 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 March 1, 2022.
F3	Each RSU represents the right to receive one share of common stock, plus accrued dividends, on the payment date with respect to the date that the RSU vests. Subject to the terms of the RSU Agreement, the RSUs will vest in three equal annual installments beginning on March 1, 2023.