UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from ~~August~~September 1, 2025 to ~~August~~September 3130, 2025

Commission File Numbers of issuing entity: 333-253034-01; 333-278415-01

Central Index Key Number of issuing entity: 0001844964

VERIZON MASTER TRUST

(Exact name of issuing entity as specified in its charter)

Commission File Numbers of depositor: 333-253034; 333-278415

Central Index Key Number of depositor: 0001836995

VERIZON ABS II LLC

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001175215

CELLCO PARTNERSHIP

(Exact name of sponsor as specified in its charter)

Karrie E. Schweikert

908-559-5672

(Name and telephone number, including area code, of the person to contact in connection with this filing)

Delaware

(State or other jurisdiction of incorporation or organization of the issuing entity)

23-2259884

(I.R.S. Employer Identification No.)

One Verizon Way Basking Ridge, New Jersey (Address of principal executive offices of the issuing entity) 07920 (Zip Code)

212-395-1000

(Telephone number including area code)

Not Applicable

(Former name, former address, if changed since last report)

Registered/reporting pursuant to (check one)

				Name of exchange
Title of class	Section 12(b)	Section 12(g)	Section 15(d)	(If Section 12(b))
Series 2023-1, Fixed Rate Class A Notes	☐	☐	☒
Series 2023-1, Fixed Rate Class B Notes	☐	☐	☒
Series 2023-1, Fixed Rate Class C Notes	☐	☐	☒
Series 2023-4, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2023-4, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2023-4, Fixed Rate Class B Notes	☐	☐	☒
Series 2023-4, Fixed Rate Class C Notes	☐	☐	☒
Series 2023-5, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2023-5, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2023-5, Fixed Rate Class B Notes	☐	☐	☒
Series 2023-5, Fixed Rate Class C Notes	☐	☐	☒
Series 2023-7, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2023-7, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2023-7, Fixed Rate Class B Notes	☐	☐	☒
Series 2023-7, Fixed Rate Class C Notes	☐	☐	☒
Series 2024-1, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2024-1, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2024-1, Fixed Rate Class B Notes	☐	☐	☒
Series 2024-1, Fixed Rate Class C Notes	☐	☐	☒
Series 2024-3, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2024-3, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2024-3, Fixed Rate Class B Notes	☐	☐	☒
Series 2024-3, Fixed Rate Class C Notes	☐	☐	☒
Series 2024-4, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2024-4, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2024-4, Fixed Rate Class B Notes	☐	☐	☒
Series 2024-4, Fixed Rate Class C Notes	☐	☐	☒
Series 2024-6, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2024-6, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2024-6, Fixed Rate Class B Notes	☐	☐	☒
Series 2024-6, Fixed Rate Class C Notes	☐	☐	☒
Series 2024-8, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2024-8, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2024-8, Fixed Rate Class B Notes	☐	☐	☒
Series 2024-8, Fixed Rate Class C Notes	☐	☐	☒
Series 2025-1, Fixed Rate Class A Notes	☐	☐	☒
Series 2025-1, Fixed Rate Class B Notes	☐	☐	☒
Series 2025-1, Fixed Rate Class C Notes	☐	☐	☒
Series 2025-3, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2025-3, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2025-3, Fixed Rate Class B Notes	☐	☐	☒
Series 2025-3, Fixed Rate Class C Notes	☐	☐	☒
Series 2025-5, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2025-5, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2025-5, Fixed Rate Class B Notes	☐	☐	☒
Series 2025-5, Fixed Rate Class C Notes	☐	☐	☒
Series 2025-7, Fixed Rate Class A-1a Notes	☐	☐	☒
Series 2025-7, Floating Rate Class A-1b Notes	☐	☐	☒
Series 2025-7, Fixed Rate Class B Notes	☐	☐	☒
Series 2025-7, Fixed Rate Class C Notes	☐	☐	☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

PART I — DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

Distribution and pool performance information with respect to the assets of Verizon Master Trust for the distribution period commencing on ~~August~~September 1, 2025 and ending on ~~August~~September 3130, 2025 is set forth in the monthly investor reports relating to the ~~September~~October 2220, 2025 distribution, which are attached to this Form 10-D as the ~~Exhibits~~ Exhibits listed under Item 10 below.

There is no activity to report under Rule 15Ga-1(a) under ~~the~~ the Securities Exchange Act of 1934 with respect to Verizon Master Trust for the distribution period commencing on ~~August~~September 1, 2025 and ending on ~~August 31~~September 30, 2025. Cellco Partnership (Central Index Key Number: 0001175215), as securitizer, ~~most~~ most recently filed a Form ABS-15G on January 31, 2025 with respect to all asset-backed securities sponsored by it, including those securities issued by Verizon Master Trust.

Item 3. Sales of Securities and Use of Proceeds

Verizon ABS II LLC and Verizon Master Trust (the “Trust”) have filed with the Securities and Exchange Commission (the “Commission”) a registration statement (file numbers 333-278415 and 333-278415-01, respectively), which was declared effective on May 31, 2024, as amended effective as of June 3, 2025.

OnThe ~~June 30, 2023, the~~ Trust ~~issued~~is ~~its~~a ~~Series~~master ~~2023-4~~trust ~~Asset~~that ~~Backed Notes (the “2023-4 Notes”)~~may, infrom antime ~~aggregate~~to ~~amount~~time ofand at ~~$800,000,000.~~its ~~The~~sole ~~Class B Notes of the 2023-4 Notes~~discretion, inissue anadditional ~~aggregate~~series ~~amount~~ of ~~$54~~notes,~~500,000~~ ~~(the~~subject ~~“2023-4~~to ~~Retained Notes”), were initially offered by~~ the ~~Trust~~satisfaction ~~but retained by Verizon DPPA True-up Trust, an affiliate~~ of ~~Verizon~~certain ~~ABS~~conditions IIset ~~LLC.~~forth Onin ~~August~~Section ~~14, 2025, Verizon ABS II LLC sold the 2023-4 Retained Notes for an aggregate offering price of $54,498,038~~3.~~00,~~1 ~~with underwriting discounts~~ of ~~$160,093.75. The offer and sale of~~ the ~~2023-4~~Master ~~Retained~~Collateral ~~Notes~~Agreement ~~were registered under, and offered by RBC Capital Markets, LLC,~~ (as ~~underwriter,~~defined ~~pursuant to, the Securities Act of 1933, as amended (the “Securities Act”~~below). ~~The~~As ~~offering~~of ~~for~~ the ~~2023-4~~date ~~Retained Notes commenced on August 4~~hereof, ~~2025, and it did not terminate prior to the sale of any or~~ all of the ~~2023-4~~series ~~Retained~~issued ~~Notes.~~by ~~The net proceeds to Verizon ABS II LLC from~~ the Trust ~~sale~~are part of ~~the~~Group ~~2023-4 Retained Notes, after deducting expenses estimated to be $89,833, was $54,414,154~~1.~~58.~~

OnWith ~~November 20,~~respect ~~2023,~~to Group 1 (as such term is defined in the ~~Trust~~related ~~issued~~Group ~~its~~Supplement), ~~Series~~no ~~2023-7~~Group ~~Asset~~Series ~~Backed~~(or ~~Notes~~any Group Creditor Representative with respect thereto) or Group Creditor (~~the~~including ~~“2023-7~~any ~~Notes”~~Noteholder), inhas anor ~~aggregate~~will ~~amount~~have the right to consent to the Trust issuing any additional Group Series if the conditions set forth in Section 3.1 of ~~$600,000,000~~the Master Collateral Agreement are satisfied. ~~The~~These ~~Class~~conditions include, but are not limited to, (i) Cthe ~~Notes~~delivery by or on behalf of the ~~2023-7~~Trust ~~Notes~~to U.S. Bank Trust Company, inNational anAssociation ~~aggregate~~(as ~~amount~~successor ofto ~~$24~~U.S. Bank National Association),~~520,000~~ as master collateral agent (the “~~2023-7~~Master ~~Retained~~Collateral ~~Notes~~Agent”), ~~were~~of ~~initially~~an ~~offered~~officer’s bycertificate ~~the~~stating ~~Trust~~that, ~~but~~based ~~retained~~upon bythe ~~Verizon~~facts ~~DPPA~~known ~~True-up~~to ~~Trust~~such officer, anthe ~~affiliate~~consummation of ~~Verizon~~such ~~ABS~~additional IIGroup ~~LLC.~~Series Onwill ~~August~~not (x) ~~14,~~result in the occurrence of ~~2025,~~(1) an ~~Verizon~~amortization ~~ABS~~event IIwith ~~LLC~~respect ~~sold~~to ~~the~~any ~~2023-7~~other ~~Retained~~Group ~~Notes~~Series ~~for~~of anthat ~~aggregate~~Group ~~offering~~or ~~price~~(2) an Event of ~~$24,519,232.52,~~Default with ~~underwriting~~respect ~~discounts~~to ofthat ~~$99,612.50.~~Group ~~The~~or ~~offer~~(y) materially and ~~sale~~adversely ofaffect the ~~2023-7~~ ~~Retained~~amount ~~Notes~~of ~~were~~distributions ~~registered~~to ~~under,~~be ~~and~~made ~~offered~~to bythe ~~RBC~~Creditors ~~Capital~~of ~~Markets,~~any other ~~LLC,~~Group asSeries ~~underwriter,~~of that Group pursuant to, the ~~Securities~~transaction ~~Act.~~documents ~~The~~and ~~offering~~other ~~for~~Series ~~the~~Related ~~2023-7 Retained~~Documents, ~~Notes~~in ~~commenced~~each oncase, ~~August~~as determined in accordance with the Master Collateral Agreement; (ii) 4,the ~~2025,~~delivery ~~and~~by itCellco ~~did~~Partnership ~~not~~d/b/a ~~terminate~~Verizon Wireless ~~prior~~(“Cellco”), as servicer (the “Servicer”) to the ~~sale~~Master Collateral Agent of ~~any~~an officer’s certificate stating that no Pool Balance Deficit is continuing or ~~all~~will result from issuing or entering into such additional Group Series of ~~the~~that ~~2023-7~~Group; ~~Retained~~and ~~Notes.~~(iii) the ~~The~~delivery ~~net~~by ~~proceeds~~the Trust to ~~Verizon~~the ~~ABS~~Master IICollateral ~~LLC~~Agent ~~from~~and ~~the~~each ~~sale~~Group Creditor Representative of ~~the~~that ~~2023-7~~Group ~~Retained~~of ~~Notes~~an opinion of counsel stating that, ~~after~~among ~~deducting~~other ~~expenses~~things, ~~estimated~~all conditions precedent to beissuing ~~$89,333,~~such ~~was~~additional ~~$24,405,645~~Group Series have been complied with.~~15.~~

On ~~January~~ September 1816, ~~2024~~2025, the Trust issued its Series ~~2024~~2025-17 Asset Backed Notes (the “~~2024~~2025-17 Notes”), in an aggregate amount of $1900,~~250,~~000,000. The Class B Notes of the ~~2024~~2025-1 7 Notes, inwith an ~~aggregate~~initial ~~amount~~note balance of $8561,~~150~~310,000, ~~(the~~were ~~“2024-1~~retained ~~Retained~~by ~~Notes”),~~Verizon ~~were~~ABS ~~initially~~II ~~offered~~LLC byor ~~the~~one ~~Trust~~or ~~but~~more ~~retained~~of byits ~~Verizon DPPA~~affiliates ~~True-up~~as ~~Trust,~~partial anconsideration ~~affiliate~~for the transfer of ~~Verizon~~Receivables ~~ABS~~to IIthe ~~LLC~~Trust. ~~On August~~The Class ~~14,~~A-1a ~~2025~~Notes, ~~Verizon~~Class A-1b ~~ABS~~Notes IIand ~~LLC~~Class C ~~sold~~Notes of the ~~2024~~2025-17 ~~Retained~~ Notes, with an aggregate initial note balance of $838,690,000, were sold for an aggregate offering price of $85838,~~148~~562,~~177~~765.7930, with underwriting discounts of $~~239~~2,~~484~~170,305.3800. The offer and sale of the ~~2024~~2025-17 ~~Retained~~ Notes were registered under, and offered by ~~RBC~~Wells Fargo Securities, LLC, BNP Paribas Securities Corp., Mizuho Securities USA LLC, TD Securities (USA) LLC, Loop Capital Markets LLC, Scotia Capital (USA) Inc. and Siebert Williams Shank & Co., LLC, as ~~underwriter~~underwriters, pursuant to, the Securities Act of 1933, as amended (the “Securities Act”). The offering for the ~~2024~~Series 2025-17 ~~Retained~~ Notes commenced on ~~August~~September 43, 2025, and it did not terminate prior to the sale of any or all of the ~~2024~~Series 2025-~~1 Retained~~7 Notes. The net proceeds to Verizon ABS II LLC from the sale of the ~~2024~~2025-17 ~~Retained~~ Notes, after deducting expenses estimated to be $89998,~~333~~644, was $85835,~~085~~393,~~596~~816.0830.

On ~~June~~September 2416, 2025, the Trust also issued its Series 2025-58 Asset Backed Notes (the “2025-58 Notes”), in an aggregate amount of $~~600~~400,000,000. The ~~Class B~~offer ~~Notes~~and sale of the 2025-58 Notes, inwere annot ~~aggregate~~registered ~~amount~~under ~~of $40,870,000 (~~the ~~“2025-5~~Securities ~~Retained Notes”)~~Act, were ~~initially~~ offered byand ~~the~~sold to ~~Trust~~certain ~~but~~institutional ~~retained~~initial bypurchasers ~~Verizon~~pursuant ~~DPPA~~to ~~True-up~~Section 4(a)(2) ~~Trust, an affiliate~~ of ~~Verizon~~the ~~ABS~~Securities ~~II LLC. On August 14~~Act, ~~2025,~~ ~~Verizon~~and ~~ABS~~then IIresold ~~LLC~~by ~~sold~~such ~~the~~initial ~~2025-5~~purchasers ~~Retained~~pursuant ~~Notes~~to ~~for~~Rule an144A ~~aggregate~~under ~~offering price of $40,863,415.84, with underwriting discounts of $140,490.63. The offer and sale of~~ the ~~2025-5~~ ~~Retained~~Securities ~~Notes~~Act ~~were registered under,~~ and ~~offered~~Regulation byS ~~RBC~~through ~~Capital~~privately ~~Markets,~~negotiated ~~LLC,~~transactions at asvarying ~~underwriter, pursuant to, the Securities Act~~prices. The offering for the 2025-~~5 Retained~~8 Notes commenced on ~~August~~September 43, 2025, and it did not terminate prior to the sale of any or all of the 2025-58 ~~Retained~~ Notes. ~~The net proceeds to Verizon ABS II LLC from the sale of the 2025-5 Retained Notes, after deducting expenses estimated to be $89,333, was $40,754,022.48.~~

The net proceeds from the sale of the ~~2023~~2025-~~4 Retained~~7 Notes, and the ~~2023~~ 2025-78 ~~Retained~~ Notes, ~~the~~may ~~2024-1~~be ~~Retained~~used ~~Notes~~by ~~and~~ the ~~2025-5~~Trust ~~Retained~~to ~~Notes~~acquire ~~were~~additional ~~used~~device bypayment ~~Verizon~~plan ~~ABS~~agreements, ~~II LLC~~ to ~~purchase~~make the ~~2023-4~~initial ~~Retained~~deposit ~~Notes,~~in the ~~2023-7~~related ~~Retained~~Reserve ~~Notes~~Account, ~~the~~to ~~2024-1~~redeem ~~Retained~~other ~~Notes~~Credit ~~and~~Extensions, to make payments of principal on any other Credit Extensions (to the ~~2025-5~~extent ~~Retained~~permitted ~~Notes~~thereby) ~~from~~and ~~Verizon~~for ~~DPPA~~other ~~True-up~~general ~~Trust~~corporate purposes.

~~For more~~Each ~~detailed~~Group information, see also (i) (x) the Indenture, dated as of June 30, 2023 (the “Series 2023-4 Original Indenture”), between the Trust, as trust, and U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 4.2 to the Trust’s Form 8-K, as filed with the Commission on June 30, 2023) and (y) Amendment No. 1 ~~to the Indenture, dated as of August 14, 2025 (the “~~Series ~~2023-4 Amendment” and~~, ~~together~~including ~~with~~ the Series 2023-4 Original Indenture, the “Series 2023-4 Indenture”), between the Trust and U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 99.6 to the Trust’s Form 8-K, as filed with the Commission on August 14, 2025~~), (ii) (x) the Indenture, dated as of November 20, 2023 (the “Series 2023~~-7 ~~Original Indenture”),~~Notes ~~between the Trust, as trust,~~ and ~~U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 4.2 to~~ the ~~Trust’s Form 8-K, as filed with the Commission on November~~ ~~20, 2023) and (y) Amendment No. 1 to the Indenture, dated as of August 14,~~ 2025 ~~(the “Series 2023~~-78 ~~Amendment” and~~Notes, ~~together~~will ~~with~~be ~~the Series~~equally ~~2023-7 Original Indenture, the “Series 2023-7 Indenture”), between the Trust~~ and ~~U.S.~~ratably ~~Bank~~entitled ~~Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 99.7~~ to the ~~Trust’s~~benefits ~~Form 8-K, as filed with the Commission on August 14, 2025), (iii) (x) the Indenture, dated as~~ of ~~January 18, 2024 (~~the ~~“Series~~Master ~~2024-1~~Collateral ~~Original~~Agreement ~~Indenture”), between the Trust, as trust, and U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit~~without ~~4.2 to the Trust’s Form 8-K~~preference, aspriority ~~filed~~or ~~with the Commission on January 18, 2024) and (y) Amendment No~~distinction. 1 toOn ~~the~~each ~~Indenture,~~Payment ~~dated as of August 14~~Date, ~~2025~~each ~~(the~~Group ~~“Series 2024-~~1 ~~Amendment” and, together with the~~ Series ~~2024-1~~then ~~Original Indenture~~outstanding, ~~the~~including ~~“Series 2024-1 Indenture”), between~~ the Trust and U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 99.8 to the Trust’s Form 8-K, as filed with the Commission on August 14, 2025~~), (iv) (x) the Indenture, dated as of June 24, 2025 (the “Series 2025~~-57 ~~Original~~Notes ~~Indenture”), between the Trust, as trust,~~ and ~~U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 4.2 to~~ the ~~Trust’s Form 8-K, as filed with the Commission on June~~ ~~24,~~ 2025~~) and (y) Amendment No. 1 to the Indenture, dated as of August 14, 2025 (the “Series 2025~~-5 Amendment” and, together with the Series 2025-5 Original Indenture, the “Series 2025-5 Indenture”), between the Trust and U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 99.9 to the Trust’s Form 8~~-K,~~ ~~as filed with the Commission on August 14~~Notes, ~~2025),~~will ~~and~~be ~~(v) the Master Collateral Agency and Intercreditor Agreement, dated as of May 25, 2021, among the Trust, the Master Collateral Agent, the~~entitled ~~Servicer, and the creditor representatives from time~~ to ~~time~~a ~~party~~portion ~~thereto~~of ~~(which was included as Exhibit 4.1 to~~ the ~~Trust’s~~Collections ~~Form 8-K, as filed with the Commission~~ on ~~May 25, 2021), as amended by (x) Omnibus Amendment No. 1 to~~ the ~~Master Collateral Agency and Intercreditor Agreement, the Transfer and Servicing Agreement, the Originator~~ Receivables ~~Transfer Agreement~~ and ~~the~~other ~~Additional~~Group ~~Transferor~~Available ~~Receivables~~Funds ~~Transfer~~for ~~Agreement, dated~~Group as of November 4, 2021, among the Trust, Verizon DPPA Master Trust, Cellco, as Servicer, marketing agent, custodian and administrator, Verizon ABS II LLC, the Master Collateral Agent, and the originators party thereto from time to time (which was included as Exhibit 99.1 tofor ~~the~~such ~~Trust’s~~Payment ~~Form~~Date ~~8-K,~~based ~~as filed with the Commission~~ on ~~November 4, 2021), (y) Omnibus Amendment No. 2 to~~ the ~~Master~~Series ~~Collateral~~Allocation ~~Agency~~Percentage ~~and~~for ~~Intercreditor Agreement~~such ~~and~~Group the Amended and Restated Trust Agreement, dated as of August 11, 2022, among the Trust, U.S. Bank National Association, as master collateral agent, Wilmington Trust, National Association, as owner trustee, Verizon DPPA True-up Trust, Verizon ABS II LLC, as depositor and Cellco, as servicer, and acknowledged and agreed to by U.S. Bank Trust Company, National Association (which was included as Exhibit 99.2 to the Trust’s Form 8-K, as filed with the Commission on August 11, 2022) and (z) Amendment No. 3 to the Master Collateral Agency and Intercreditor Agreement, dated as of August 30, 2024, among the Trust, the Master Collateral Agent and Cellco, as administrator (which was included as Exhibit 99.1 ~~to the Trust’s Form 8-K, as filed with the Commission on September 3, 2024) (the “Master Collateral Agreement”)~~Series.

~~The~~For ~~term~~more ~~“Class~~detailed information, see also (i) Bthe ~~Notes~~Indenture,” dated as ~~such~~of ~~term~~September 16, ~~applies~~2025 to (the ~~2023~~“Series 2025-~~4 Notes~~7 Indenture”), ~~has~~between the ~~meaning~~Trust, ~~assigned~~as totrust, itand inU.S. ~~Section 1~~Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 4.12 ofto the ~~Series~~Trust’s ~~2023~~Form 8-4K, ~~Indenture~~as filed with the Commission on September 16, 2025), (ii) the ~~term~~Indenture, dated as of September 16, 2025 (the “~~Class~~Series C2025-8 Indenture”), ~~Notes~~between the Trust,” as ~~such~~trust, ~~term~~and ~~applies~~U.S. Bank Trust Company, National Association, as indenture trustee and note paying agent (which was included as Exhibit 4.2 to the ~~2023~~Trust’s Form 8-7K, as filed with the Commission on September 17, 2025) and (iii) the Master Collateral Agency and Intercreditor Agreement, dated as of May 25, 2021, among ~~Notes~~the Trust, ~~has~~the Master Collateral Agent, the ~~meaning~~Servicer, ~~assigned~~and the creditor representatives from time to ittime inparty ~~Section 1~~thereto (which was included as Exhibit 4.1 ofto the ~~Series~~Trust’s ~~2023-7~~Form ~~Indenture~~8-K, as filed with the Commission ~~term~~on ~~“Class~~May B25, ~~Notes~~2021),” as ~~such~~amended ~~term~~by ~~applies~~(x) Omnibus Amendment No. 1 to the ~~2024-1~~Master Collateral Agency and Intercreditor Agreement, the Transfer and Servicing Agreement, the Originator Receivables Transfer Agreement and the Additional ~~Notes~~Transferor Receivables Transfer Agreement, ~~has~~dated as of November 4, 2021, among the ~~meaning~~Trust, ~~assigned~~Verizon DPPA Master Trust, Cellco, as Servicer, marketing agent, custodian and administrator, Verizon ABS II LLC, the Master Collateral Agent, and the originators party thereto from time to ittime in(which ~~Section 1~~was included as Exhibit 99.1 ofto the ~~Series~~Trust’s ~~2024-1~~Form ~~Indenture~~8-K, as filed with the ~~term~~Commission ~~“Class~~on November B4, ~~Notes~~2021),” as(y) ~~such~~Omnibus ~~term~~Amendment ~~applies~~No. 2 to the ~~2025-5~~ ~~Notes~~Master Collateral Agency and Intercreditor Agreement and the Amended and Restated Trust Agreement, ~~has~~dated as of August 11, 2022, among the ~~meaning~~Trust, ~~assigned~~U.S. Bank National Association, as master collateral agent, Wilmington Trust, National Association, as owner trustee, Verizon DPPA True-up Trust, Verizon ABS II LLC, as depositor and Cellco, as servicer, and acknowledged and agreed to itby inU.S. ~~Section 1~~Bank Trust Company, National Association (which was included as Exhibit 99.12 ofto the ~~Series~~Trust’s ~~2025~~Form 8-5K, ~~Indenture~~as ~~and~~filed ~~any~~with ~~other~~the ~~capitalized~~Commission ~~terms~~on ~~used~~August 11, in2022) ~~this~~and ~~Item~~(z) Amendment No. 3 ~~have~~to the ~~meaning~~Master ~~assigned~~Collateral toAgency ~~them~~and inIntercreditor ~~Appendix~~Agreement, Adated as of August 30, 2024, among the Trust, the Master Collateral ~~Agreement~~Agent and Cellco, as ~~applicable~~administrator (which was included as Exhibit 99.1 to the Trust’s Form 8-K, ~~each~~as offiled ~~which~~with ~~are~~the ~~incorporated~~Commission byon September 3, ~~reference~~2024) ~~herein~~(the “Master Collateral Agreement”).

The terms “Class A-1a Notes,” “Class A-1b Notes,” “Class B Notes,” “Class C Notes” and “Reserve Account,” as such terms apply to the 2025-7 Notes, have the meaning assigned to them in Section 1.1 of the Series 2025-7 Indenture, the term “Reserve Account,” as such term applies to the 2025-8 Notes, has the meaning assigned to it in Section 1.1 of the Series 2025-8 Indenture, and the remaining capitalized terms used in this Item 3 have the meaning assigned to them in Appendix A of the Master Collateral Agreement, as applicable, each of which are incorporated by reference herein.

Item 79. ~~Change~~Other ~~in Sponsor Interest in the Securities~~Information.

~~On August 14, 2025,~~ Verizon ~~ABS~~Master IITrust ~~LLC,~~redeemed ~~an affiliate of~~ the ~~sponsor,~~Series ~~sold the~~ 2023-45 ~~Retained Notes,~~notes ~~the~~on ~~2023-7 Retained Notes~~September 22, ~~the 2024-1 Retained Notes and the~~ 2025~~-5 Retained Notes~~, which ~~were~~was ~~previously retained by~~the ~~Verizon~~Anticipated ~~DPPA~~Redemption ~~True-up~~Date ~~Trust, an affiliate of the sponsor and Verizon ABS II LLC,~~ (as defined ~~and~~in ~~described~~the ~~under~~Series ~~Item~~2023-5 3prospectus ~~above.~~filed ~~After~~by ~~giving effect to this sale, none of~~ Verizon ~~ABS~~Master ~~II LLC, Verizon DPPA True-up~~ Trust, ~~the~~with ~~sponsor or any other affiliate of~~ the ~~sponsor~~Securities ~~retains~~and anExchange ~~interest~~Commission inon ~~any~~September 14, ~~of the~~ 2023-4) ~~Notes,~~for ~~the~~Series 2023-~~7 Notes, the 2024-1 Notes or the 2025-~~5 ~~Notes (each as defined under Item 3 above), other than as required under the risk retention regulations in Regulation RR of the Exchange Act~~.

Item 10. Exhibits.

Exhibit 99.1		Monthly investor report relating to the ~~September~~October 2220, 2025 distribution (Verizon Master Trust).
Exhibit 99.2		Monthly investor report relating to the ~~September~~October 2220, 2025 distribution (Verizon Master Trust Series 2023-1).
Exhibit 99.3		Monthly investor report relating to the ~~September~~October 2220, 2025 distribution (Verizon Master Trust Series 2023-4).
Exhibit 99.4		Monthly investor report relating to the ~~September~~October 2220, 2025 distribution (Verizon Master Trust Series 2023-57).
Exhibit 99.5		Monthly investor report relating to the ~~September~~October 2220, 2025 distribution (Verizon Master Trust Series ~~2023~~2024-71).
Exhibit 99.6		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2024-1).
Exhibit 99.7		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2024-3).
Exhibit 99.8		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2024-4).
Exhibit 99.9		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2024-6).
Exhibit 99.10		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2024-8).
Exhibit 99.11		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2025-1).
Exhibit 99.12		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2025-3).
Exhibit 99.13		Monthly investor report relating to the September 22, 2025 distribution (Verizon Master Trust Series 2025-5).

SIGNATURES


Exhibit 99.6		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2024-3).

Exhibit 99.7		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2024-4).

Exhibit 99.8		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2024-6).

Exhibit 99.9		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2024-8).

Exhibit 99.10		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2025-1).

Exhibit 99.11		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2025-3).

Exhibit 99.12		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2025-5).

Exhibit 99.13		Monthly investor report relating to the October 20, 2025 distribution (Verizon Master Trust Series 2025-7).

~~Pursuant~~4 ~~to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~

~~Dated:~~SIGNATURES ~~September 30, 2025~~

~~VERIZON~~Pursuant ~~MASTER~~to ~~TRUST~~the ~~(Issuing~~requirements ~~Entity)~~of ~~By:~~the ~~Cellco~~Securities ~~Partnership~~Exchange Act of 1934, ~~solely~~the asregistrant ~~servicer~~has ~~By:~~duly ~~/s/~~caused ~~Jon~~this ~~Ransegnola~~report ~~Name:~~to ~~Jon~~be ~~Ransegnola~~signed ~~Title:~~on ~~Assistant~~its ~~Treasurer~~behalf by the undersigned thereunto duly authorized.

5Dated: October 21, 2025


VERIZON MASTER TRUST

(Issuing Entity)

By:		Cellco Partnership,

		solely as servicer

By:		/s/ Jon Ransegnola

		Name: Jon Ransegnola

		Title: Assistant Treasurer

Filing Compare · Verizon Master Trust