New York, Jan 13, 2026, 15:09 EST — Regular session
- The FCC granted Verizon a waiver from its 60-day phone unlocking requirement, shifting the carrier toward industry guidelines. 1
- Verizon disclosed a new 8-K filing dated Jan. 12. 2
- Verizon is scheduled to report quarterly results on Jan. 30. 3
Verizon Communications Inc shares fell 2.4% to $38.89 in afternoon trading on Tuesday, lagging the broader market a day after U.S. regulators eased a long-standing phone-unlocking rule.
The change matters because “unlocking” determines whether a handset can be used on a rival network, which shapes how easily customers can switch. Verizon has argued the old timeline made its devices easier to steal and resell, while consumer advocates say faster unlocking lowers switching costs and boosts competition.
Late Monday, the Federal Communications Commission revised its rule requiring Verizon to unlock phones 60 days after activation, saying it “closes a loophole that sophisticated criminal networks and everyday lawbreakers alike have exploited to engage in illicit activity.” Verizon told the FCC it lost an estimated 784,703 devices to fraud in 2023 and said fraud jumped about 55% after TracFone moved to Verizon’s 60-day lock policy. 4
Under the wireless industry’s CTIA code, unlocking is generally tied to a customer paying off the device or satisfying the contract, and prepaid phones are typically unlocked within a year after activation. Verizon can now follow that standard, which could mean longer waits for customers who want to move a financed phone to another carrier. 5
FCC Chair Brendan Carr said the waiver would help align the market, arguing: “By waiving a regulation that incentivized bad actors to target one particular carrier’s handsets for theft, we now have a uniform industry standard.” 6
The move landed on a down day for the group. AT&T fell 1.8% and T-Mobile slid 4.5%, while the SPDR S&P 500 ETF was down about 0.3%. Traders also digested U.S. inflation data showing consumer prices rose 0.3% in December and were up 2.7% from a year earlier; “This should give the Fed some breathing room to cut rates in Q1 if the trend continues,” Art Hogan, chief market strategist at B. Riley Wealth, wrote. 7
Separately, Verizon disclosed it amended terms for a $30 million target performance stock unit award for CEO Daniel H. Schulman. The award will be granted in the first quarter and vests in 2027 based on a mix of adjusted earnings-per-share targets and Verizon’s total shareholder return versus a peer group. 8
That filing is not the sort that usually shifts a stock on its own, but it adds another reminder that investors are watching execution closely. Verizon is trying to defend subscriber trends while keeping a lid on spending and protecting cash.
Price pressure is still the backdrop. Sam McHugh, an equity analyst at BNP Paribas, said Verizon recently added a $10 promotional discount and warned that “turning the business around is likely to be harder and more expensive than anticipated.” 9
But the FCC waiver cuts both ways. Extending how long phones stay locked could anger customers and invite political or regulatory pushback if switching becomes harder in practice, and there is no guarantee fraud losses fall quickly if criminal networks adapt.
The next hard catalyst is Jan. 30, when Verizon is set to report fourth-quarter 2025 earnings at 8:30 a.m. ET. Traders will be listening for details on fraud costs, subscriber churn (customer losses), and whether promotions are pressuring margins. 10
