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Verizon (NYSE: VZ) EVP gains phantom stock units via deferred plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

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

Verizon Communications executive Joseph J. Russo, EVP & President–Global Networks & Technology, received an indirect grant of 81.926 units of phantom stock on common stock, valued at $13.47 per unit. This raised his deferred phantom stock balance to 81,694.461 units, held through a deferred compensation plan and settled in cash at future payout events.

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Insider Russo Joseph J.
Role EVP&Pres-Global Networks&Tech
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 81.926 $13.47 $1K
Holdings After Transaction: Phantom Stock (unitized) — 81,694.461 shares (Indirect, By Deferred Compensation Plan)
Footnotes (1)
  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.
Phantom stock units granted 81.926 units Grant on April 23, 2026
Reference price per phantom unit $13.47 per unit Phantom stock grant valuation
Total phantom stock after grant 81,694.461 units Holdings following transaction
Underlying common stock equivalent 23 shares Underlying security tied to phantom units
Transaction date April 23, 2026 Date of phantom stock grant
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP&Pres-Global Networks&Tech
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock (unitized)(1)04/23/2026A81.926 (1) (1)Common Stock23$13.4781,694.461(2)IBy 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. Russo04/24/2026
** Signature of Reporting PersonDate
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 insider transaction did Verizon (VZ) report for Joseph J. Russo?

Verizon reported that executive Joseph J. Russo received an indirect grant of 81.926 units of phantom stock tied to Verizon common stock. This award is part of a deferred compensation plan and increases his total phantom stock holdings to 81,694.461 units.

What is the value of Joseph J. Russo’s new phantom stock award at Verizon (VZ)?

The new phantom stock award to Joseph J. Russo was based on a reference price of $13.47 per unit for 81.926 units. Phantom stock represents the economic value of common shares but is settled in cash under the company’s deferred compensation plan.

How many phantom stock units does Joseph J. Russo now hold at Verizon (VZ)?

After the latest grant, Joseph J. Russo holds 81,694.461 units of phantom stock indirectly through a deferred compensation plan. These units track the value of Verizon common stock and are payable in cash upon specified payout events set under that plan.

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

Each phantom stock unit is economically tied to a portion of one Verizon common share but is settled in cash, not stock. Payment occurs upon events that Russo established in accordance with Verizon’s deferred compensation plan, rather than through open-market share transactions.

Does Joseph J. Russo’s Verizon (VZ) phantom stock award involve actual common shares?

The award does not deliver actual Verizon common shares. Instead, each phantom stock unit equals the economic value of part of a share and is ultimately paid in cash. The filing notes related amounts also include phantom stock acquired through dividend reinvestment.