How many Verizon-related phantom stock units does Joseph J. Russo now hold?

Following this transaction, Joseph J. Russo holds 83,132.720 phantom stock units linked to Verizon common stock. This total includes the new 86.173-unit award reported and additional units accumulated through dividend reinvestment within the Deferred Compensation Plan.

Verizon (VZ) EVP Joseph Russo granted additional phantom stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Russo Joseph J. reported acquisition or exercise transactions in this Form 4 filing.

Verizon Communications executive Joseph J. Russo reported a routine compensation-related transaction involving phantom stock units. He received an award of 86.173 unitized phantom stock on Common Stock, economically tied to 25.000 shares of common stock and held indirectly through a Deferred Compensation Plan.

After this grant, his total phantom stock position in the plan rose to 83,132.720 units, which are settled in cash rather than actual shares and include amounts accumulated through dividend reinvestment. This filing reflects a non-market, derivative-based compensation accrual rather than an open-market stock purchase or sale.

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)	86.173	$12.81	$1K

Holdings After Transaction: Phantom Stock (unitized) — 83,132.72 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 granted: 86.173 units Reference price per phantom unit: $12.81 per unit Total phantom units after grant: 83,132.720 units +2 more

5 metrics

Phantom stock units granted 86.173 units Grant of unitized phantom stock on Common Stock

Reference price per phantom unit $12.81 per unit Transaction price per phantom stock unit

Total phantom units after grant 83,132.720 units Phantom stock balance following transaction

Underlying common shares 25.000 shares Underlying Verizon common stock tied to the phantom units

Exercise price of phantom stock $0.00 Conversion or exercise price for phantom stock units

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment, Grant, award, or other acquisition

4 terms

Phantom Stock (unitized) financial

"security_title: "Phantom Stock (unitized)""

Deferred Compensation Plan financial

"nature_of_ownership: "By 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.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

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Form 4 Insider Transactions: What Each Field Means →

06/05/2026 - 02:10 PM

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

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)
06/04/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock (unitized)	⁽¹⁾	06/04/2026		A		86.173		⁽¹⁾	⁽¹⁾	Common Stock	25	$12.81	83,132.72⁽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	06/05/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Verizon (VZ) executive Joseph J. Russo report in this Form 4?

Joseph J. Russo reported receiving 86.173 unitized phantom stock units tied to Verizon common stock. These units are part of a compensation arrangement in a Deferred Compensation Plan and increase his total phantom stock holdings to 83,132.720 units.

Is Joseph J. Russo buying or selling Verizon (VZ) shares in this filing?

This filing does not show open-market buying or selling of Verizon shares. It reflects a grant or award acquisition of phantom stock units as compensation, settled in cash and held through a Deferred Compensation Plan, not a direct stock trade on the market.

What are the key details of the phantom stock grant reported by Verizon (VZ)?

The grant covers 86.173 phantom stock units at a reference value of $12.81 per unit. These units correspond economically to 25.000 shares of Verizon common stock and are settled in cash under the company’s Deferred Compensation Plan rather than delivering actual shares.

How are Joseph J. Russo’s phantom stock units in Verizon (VZ) settled?

The phantom stock units are settled in cash, not Verizon shares. Each unit represents the economic equivalent of a portion of one share of common stock and becomes payable upon events defined by Joseph J. Russo under the terms of the Deferred Compensation Plan.