Verizon management check
VZ · Communication Services · Integrated Telecommunication Services · CEO Mr. Schulman
Filings as of
3 good · 2 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $94, against $213 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.51 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.2% of net income$34.3m of reported pay in fiscal 2025, against $17.6bn of net income.
- Watch
Do they own the stock?
Insiders are selling2 insiders sold $4.0m in the last six months and none bought. 10 of 11 sales ran on pre-arranged 10b5-1 plans.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.2% a year over the last three fiscal years.
- Flag
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Mr. Vestberg, Mr. Schulman. 17 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2023.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Communication Services.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 27 | |
| Pay for performance | 75 | 76 | |
| CEO cost | 100 | 72 | |
| Skin in the game | — | — | 75 |
| Dilution | 48 | 65 | |
| Stable leadership | 0 | 93 | |
| Clean books | 100 | 100 |
Closest peers
Others in Integrated Telecommunication Services, by management score. Verizon is 14th of 18 in its sector.
- 229TAT&T66
- 344METAMeta Platforms59
- 352TKOTKO Group Holdings58
- 394VZVerizon54
- 417DISWalt Disney Company (The)51
- 452OMCOmnicom Group46
Pay versus performance
From the proxy statement filed April 6, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Schulman, Mr. Vestberg | $34.3m | $34.1m | $13.8m | $94 | $213 | $17.6bn |
| 2024 | Mr. Vestberg | $24.2m | $24.8m | $11.7m | $86 | $160 | $17.9bn |
| 2023 | Mr. Vestberg | $24.1m | $17.8m | $10.8m | $76 | $114 | $12.1bn |
| 2022 | Mr. Vestberg | $19.8m | $9.2m | $9.8m | $74 | $73 | $21.7bn |
| 2021 | Mr. Vestberg | $20.3m | $10.5m | $9.3m | $92 | $122 | $22.6bn |
The board says pay is tied most to Adjusted EPS. Its other key measures: Wireless service revenue, Free cash flow, Relative TSR, Adjusted operating income, Cash flow from operations.
Insiders and the CEO's stake
2 insiders sold $4.0m in the last six months and none bought. 10 of 11 sales ran on pre-arranged 10b5-1 plans.
- SoldSamantha HammockEVP & Chief HR Officer$3.5mMay 29, 2026
- SoldKyle MaladyEVP and Group CEO-VZ Business · 10b5-1 plan$525kOct 20, 2026
Leadership and governance on file
- Sep 29, 2026Leadership change8-K 5.02
- Jul 24, 2026Leadership change8-K 5.02
- May 28, 2026Leadership change8-K 5.02
- Feb 9, 2026Leadership change8-K 5.02
- Feb 5, 2026Leadership change8-K 5.02
- Jan 12, 2026Leadership change8-K 5.02
- Dec 5, 2025Leadership change8-K/A 5.02
- Oct 14, 2025Leadership change8-K/A 5.02
- Oct 6, 2025Leadership change8-K 5.02
- Aug 25, 2025Leadership change8-K 5.02
- Jun 27, 2025Leadership change8-K/A 5.02
- Mar 19, 2025Leadership change8-K 5.02
Latest shareholder vote results: May 28, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $55.0bn returned to owners in buybacks and dividends, 60% of net income, and $0 of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $133.6bn | $136.8bn | $134.0bn | $134.8bn | $138.2bn |
| Net income | $22.6bn | $21.7bn | $12.1bn | $17.9bn | $17.6bn |
| Stock-based pay | — | — | — | — | — |
| Buybacks | — | — | — | — | — |
| Dividends | $10.4bn | $10.8bn | $11.0bn | $11.2bn | $11.5bn |
| Diluted shares | 4150m | 4204m | 4215m | 4223m | 4231m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.