Shankar Arumugavelu - Jul 1, 2024 Form 3 Insider Report for VERIZON COMMUNICATIONS INC (VZ)

Role
EVP-Verizon Global Services
Signature
Brandon N. Egren, Attorney-in-fact for Shankar Arumugavelu
Stock symbol
VZ
Transactions as of
Jul 1, 2024
Transactions value $
$0
Form type
3
Date filed
7/3/2024, 10:29 AM
Previous filing
Oct 24, 2023
Next filing
Jul 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding VZ Common Stock 204 Jul 1, 2024 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
holding VZ Phantom Stock (unitized) Jul 1, 2024 Common Stock 56.3K By Deferred Compensation Plan F1
holding VZ Performance Stock Units - 2022 Award Jul 1, 2024 Common Stock 16.2K Direct F2
holding VZ Restricted Stock Units - 2022 Award Jul 1, 2024 Common Stock 7.21K Direct F3
holding VZ Restricted Stock Units - 2023 Award Jul 1, 2024 Common Stock 33.2K Direct F4
holding VZ Special Restricted Stock Units - 2023 Award Jul 1, 2024 Common Stock 31K Direct F5
holding VZ Restricted Stock Units - 2024 Award Jul 1, 2024 Common Stock 79.6K Direct F6
* 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 197,484.578 units held as of July 1, 2024.
F2 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, 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.
F3 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 March 1, 2025.
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 in two equal installments on March 1, 2025 and March 1, 2026, respectively.
F5 Each Special 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 October 16, 2025.
F6 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, 2025.