Mary-Lee Stillwell - May 1, 2023 Form 3 Insider Report for VERIZON COMMUNICATIONS INC (VZ)

Role
SVP and Controller
Signature
Brandon N. Egren, Attorney-in-fact for Mary-Lee Stillwell
Stock symbol
VZ
Transactions as of
May 1, 2023
Transactions value $
$0
Form type
3
Date filed
5/3/2023, 07:21 AM
Next filing
May 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding VZ Common Stock 5.4K May 1, 2023 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
holding VZ Phantom Stock (unitized) May 1, 2023 Common Stock 1.06K By Deferred Compensation Plan F1
holding VZ Restricted Stock Units - 2020 Award May 1, 2023 Common Stock 2.35K Direct F2
holding VZ Performance Stock Units - 2021 Award May 1, 2023 Common Stock 2.27K Direct F3
holding VZ Restricted Stock Units - 2021 Award May 1, 2023 Common Stock 1.01K Direct F4
holding VZ Special Restricted Stock Units - 2021 Award May 1, 2023 Common Stock 11.4K Direct F5
holding VZ Performance Stock Units - 2022 Award May 1, 2023 Common Stock 2.91K Direct F6
holding VZ Restricted Stock Units - 2022 Award May 1, 2023 Common Stock 2.59K Direct F7
holding VZ Restricted Stock Units - 2023 Award May 1, 2023 Common Stock 23.6K Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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. The number of shares is based upon 3,723.305 units held as of May 1, 2023.
F2 Each Restricted Stock Unit (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 on September 1, 2023.
F3 Each Performance Stock Unit (PSU) represents the right to receive one share of common stock, plus accrued dividends, on the payment date with respect to the date that the PSU vests. The PSUs will vest on December 31, 2023, subject to the terms of the PSU Agreement, which also provides for an additional number of units to vest if certain performance conditions unrelated to the price of the issuer's stock are achieved.
F4 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 on March 1, 2024.
F5 Each Special RSU represents the right to receive an amount payable in cash equal to the economic equivalent of one share of common stock, plus accrued dividends, on the applicable vesting date. Subject to the terms of the RSU Agreement, the RSUs will vest on October 29, 2023.
F6 Each PSU represents the right to receive one share of common stock, plus accrued dividends, on the payment date with respect to the date that the PSU vests. The PSUs will vest on December 31, 2024, subject to the terms of the PSU Agreement, which also provides for an additional number of units to vest if certain performance conditions unrelated to the price of the issuer's stock are achieved.
F7 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 two equal installments on March 1, 2024 and March 1, 2025, respectively.
F8 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, 2024.