It already exists within the 401k plan... you buy VZ, company matches & you can either keep it or redirect it to other funds, that's on you. IF you keep the money in the VZ share fund... you own the shares. When you retire, or earlier if you want... having the DIV from the fund sent to your bank account, instead of being reinvested within the 401k, will yield a 1099 with a Distribution Code of "U"
Code U in Box seven = "Dividends that have been distributed from an Employee Stock Ownership Plan under section 404(k)"
So that's what you have right now...