Verizon EVP Russo granted 77.4 phantom stock units

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC (VZ) reported that executive officer Joseph J. Russo, EVP & President–Global Networks & Technology, received an indirect grant of 77.408 phantom stock units on September 10, 2026 under a deferred compensation plan, economically tied to common stock and settled in cash. Following this award, his associated deferred-compensation account holds 84,951.063 phantom stock units, including units acquired through dividend reinvestment. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Grant/Award: 77.408 shares

Grant/Award 1 txn

Insider Russo Joseph J.

Role EVP&Pres-Global Networks&Tech

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (unitized) F1, F2	77.408	$14.26	$1K

Holdings After Transaction: Phantom Stock (unitized) — 84,951.063 contracts (Indirect, By Deferred Compensation Plan)

Footnotes (2)

1. F1. 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.
2. F2. Includes phantom stock acquired through dividend reinvestment.

Key Figures

Phantom stock units granted: 77.408 units Underlying common shares: 22 shares Phantom stock holdings after transaction: 84,951.063 units +1 more

4 metrics

Phantom stock units granted 77.408 units Grant to Joseph J. Russo on September 10, 2026

Underlying common shares 22 shares Underlying security for the September 10, 2026 phantom stock grant

Phantom stock holdings after transaction 84,951.063 units Indirect holdings by deferred compensation plan after September 10, 2026 grant

Reference value per phantom unit $14.26 per unit Reported transaction price for the September 10, 2026 grant (footnote-qualified)

Key Terms

Phantom Stock, Deferred Compensation Plan, dividend reinvestment

3 terms

Phantom Stock financial

"Each share of phantom stock is the economic equivalent of a portion of one share"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Deferred Compensation Plan financial

"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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Verizon (VZ) report for executive Joseph J. Russo?

Verizon reported that Joseph J. Russo received an indirect grant of 77.408 phantom stock units on September 10, 2026 under a deferred compensation plan, economically linked to Verizon common stock and settled in cash.

How many phantom stock units related to VZ does Joseph J. Russo now hold?

After the September 10, 2026 award, Joseph J. Russo’s deferred-compensation account holds 84,951.063 phantom stock units, including phantom stock acquired through dividend reinvestment.

Is Joseph J. Russo’s Verizon (VZ) phantom stock held directly or indirectly?

The reported 84,951.063 phantom stock units are held indirectly by Joseph J. Russo through a Deferred Compensation Plan, as noted in the filing’s nature of ownership field.

What does the Verizon (VZ) filing say about settlement of Joseph J. Russo’s phantom stock?

Each phantom stock unit is the economic equivalent of a portion of one share of Verizon common stock and is settled in cash, becoming payable upon events Russo established under the deferred compensation plan.

Was Joseph J. Russo’s Verizon (VZ) phantom stock transaction under a Rule 10b5-1 plan?

The filing indicates no Rule 10b5-1 trading plan; the document-level checkbox for affirming a Rule 10b5-1 arrangement is explicitly unchecked.

How many Verizon (VZ) common shares underlie the new phantom stock units for Joseph J. Russo?

The 77.408 phantom stock units awarded on September 10, 2026 correspond to an underlying amount of 22 shares of Verizon common stock, as stated in the filing’s underlying security shares field.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/11/2026 - 02:59 PM Accepted by SEC EDGAR 09/11/2026 - 02:58 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Russo Joseph J.

(Last) (First) (Middle)

VERIZON COMMUNICATIONS INC.

1095 AVENUE OF THE AMERICAS

(Street)

NEW YORK NEW YORK 10036

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
VERIZON COMMUNICATIONS INC [ VZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP&Pres-Global Networks&Tech

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock (unitized)	(1)	09/10/2026		A		77.408		(1)	(1)	Common Stock	22	$14.26	84,951.063(2)	I	By Deferred Compensation Plan

Explanation of Responses:

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.

2. Includes phantom stock acquired through dividend reinvestment.

Remarks:

	Evgeniya Berezkina, Attorney-in-fact for Joseph J. Russo	09/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)