VERIZON COMMUNICATIONS INC — Director's Dealing 2025

Oct 21, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VERIZON COMMUNICATIONS INC (VZ)
CIK: 0000732712
Period of Report: 2025-10-17

Reporting Person: SCHULMAN DANIEL H (Director, CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-17	Restricted Stock Units - 2025 CEO Award	$	A	475512	Acquired		Common Stock (475512)	Direct
2025-10-17	Restricted Stock Units - Make Whole Award	$	A	225868	Acquired		Common Stock (225868)	Direct
2025-10-17	Performance Stock Units - 2025 Supplemental Award	$	A	222222	Acquired		Common Stock (222222)	Direct

Footnotes

F1: 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 December 31, 2027.

F2: 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 December 31, 2026.

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 are earned at a range of 0-300% of the target number of PSUs granted based on the achievement of average share price goals specified in the PSU Agreement over a performance period commencing on October 17, 2025 and ending December 31, 2028. Subject to the terms of the PSU Agreement, the earned PSUs will vest on December 31, 2027 or such later date during the performance period on which the applicable share price performance goal is achieved.