Verizon Communications (NYSE: VZ) EVP receives new phantom stock award
Rhea-AI Filing Summary
Verizon Communications Inc. executive Joseph J. Russo, EVP & President–Global Networks & Technology, reported a grant of 88.094 derivative units of Phantom Stock (unitized) on 2026-07-16, held indirectly through a deferred compensation plan. Each phantom share is economically linked to common stock and settled in cash, becoming payable upon events he established under the plan. Following this award, his indirect holdings total 83,397.208 phantom stock units, including amounts acquired through dividend reinvestment, tied in this transaction to 25 underlying shares of common stock.
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Russo Joseph J.
Role
EVP&Pres-Global Networks&Tech
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock (unitized) | 88.094 | $12.53 | $1K |
Holdings After Transaction:
Phantom Stock (unitized) — 83,397.208 shares (Indirect, By Deferred Compensation Plan)
Footnotes (1)
- Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash. The shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan. Includes phantom stock acquired through dividend reinvestment.
Key Figures
Phantom stock units acquired: 88.0940 units
Recorded value per phantom stock unit: $12.5300
Total phantom stock units held indirectly: 83397.2080 units
+1 more
4 metrics
Phantom stock units acquired
88.0940 units
Grant, award, or other acquisition on 2026-07-16
Recorded value per phantom stock unit
$12.5300
Assigned transaction price per phantom stock (unitized) unit
Total phantom stock units held indirectly
83397.2080 units
Indirect deferred compensation plan holdings after the transaction, including dividend reinvestment
Underlying common stock shares
25.0000 shares
Common stock referenced as underlying security for this phantom stock transaction
Key Terms
Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment
3 terms
Phantom Stock (unitized) financial
"Security titled “Phantom Stock (unitized)” reported as a derivative holding"
Deferred Compensation Plan financial
"Payable upon events established in accordance with the deferred compensation plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
dividend reinvestment financial
"Includes phantom stock acquired through dividend reinvestment"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Verizon (VZ) executive Joseph J. Russo report?
Joseph J. Russo reported a grant of 88.094 phantom stock units held indirectly via a deferred compensation plan. These cash-settled units are economically linked to Verizon common stock and increased his total phantom stock holdings to 83,397.208 units.
How many phantom stock units in total does Joseph J. Russo now hold at Verizon (VZ)?
After the reported transaction, Joseph J. Russo indirectly holds 83,397.208 phantom stock units. This total, held through a deferred compensation plan, includes units acquired via dividend reinvestment as well as the newly granted 88.094 units.
What is phantom stock in the context of Verizon (VZ) executive compensation?
Verizon’s phantom stock is described as the economic equivalent of a portion of one share of common stock and is settled in cash. These units become payable upon events the reporting person establishes under the company’s deferred compensation plan.
Is Joseph J. Russo’s Verizon (VZ) phantom stock held directly or indirectly?
Joseph J. Russo’s reported phantom stock is held indirectly, noted as “By Deferred Compensation Plan.” This means the position is maintained within a deferred compensation arrangement rather than as directly held Verizon common shares.
What underlying common stock is referenced in Joseph J. Russo’s Verizon (VZ) phantom stock grant?
The reported phantom stock transaction references 25 shares of Verizon common stock as the underlying security. Each phantom unit represents the economic equivalent of a portion of a common share but is ultimately settled in cash, not stock.
Was Joseph J. Russo’s Verizon (VZ) phantom stock transaction part of a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not marked as an affirming trading plan. The transaction is characterized as a grant or award of phantom stock units under a deferred compensation plan, rather than as an open-market trade.