NEW YORK, Jan 2, 2026, 2:26 PM ET — Regular session
Verizon Communications Inc shares edged lower on Friday after a cluster of U.S. regulatory filings detailed year-end “phantom stock” transactions by senior executives. The stock was down 0.1% at $40.67 as of 2:26 p.m. ET, after trading between $40.32 and $40.90.
The disclosures land as investors reset positions at the start of 2026, with interest-rate expectations back in focus. Verizon is widely held for its steady cash flows, making it one of the telecom names that can move with rates as investors compare dividend stocks with bond yields.
Treasury yields were higher on Friday, with the benchmark 10-year yield up about 2.4 basis points at 4.177%, according to a Reuters report. Rising yields can make income-oriented equities less attractive relative to bonds.
In separate Form 4 filings — the SEC’s disclosure for insider transactions — CEO Daniel H. Schulman and CFO Anthony T. Skiadas reported acquiring 228.902 and 149.514 phantom stock units, respectively, in transactions dated Dec. 31, 2025. Director Hans Erik Vestberg and executive vice president Joseph J. Russo also reported phantom stock acquisitions on the same date, filings showed.
Phantom stock is a bookkeeping unit linked to the value of a company’s shares. The filings said Verizon’s phantom stock is cash-settled under its deferred compensation plan, which lets executives defer pay and receive it later under pre-set conditions.
Insider activity can draw attention because executives may have deeper insight into business trends than outside investors. But transactions tied to compensation or deferral plans do not necessarily signal open-market buying.
Verizon traded in line with telecom peers on Friday. AT&T fell 0.7% and T-Mobile slid about 1.3% in afternoon trading.
“The market is looking for direction,” Matthew Maley, chief market strategist at Miller Tabak, said in a Reuters report. Investors are watching the U.S. jobs report due Jan. 9 and the consumer price index due Jan. 13, while Fed funds futures imply little chance of a rate cut at the late-January meeting and close to a 50% chance of a quarter-point cut in March, the report said. Reuters
For Verizon, that macro calendar matters because rate swings can shift demand for high-dividend, defensive shares. A softer data run that pushes yields lower typically supports those stocks, while hotter inflation or firmer payrolls can do the opposite.
Investors also have Verizon’s next results in view. The company has said it will report fourth-quarter 2025 earnings on Jan. 30 at 8:30 a.m. ET.
In that report, traders will focus on wireless subscriber trends, the level of promotional spending, and updates on free cash flow and capital spending — key measures for a company that markets itself as a steady cash generator.
With shares only modestly lower into mid-afternoon, Verizon’s near-term direction is likely to stay tethered to rate expectations and positioning ahead of the Jan. 30 earnings release.
