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Verizon (VZ) EVP Joseph Russo receives phantom stock grant in deferred plan

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

Rhea-AI Filing Summary

Verizon Communications executive Joseph J. Russo reported a routine compensation-related grant of phantom stock units through a company deferred compensation plan. On July 1, 2026, he acquired 92.033 phantom stock units, economically tied to 26 shares of common stock and valued at $11.99 per unit. These phantom units are settled in cash rather than stock and become payable upon events he established under the deferred compensation plan. Following this grant and related dividend reinvestment, his deferred plan balance increased to 83,309.114 phantom stock units, reflecting ongoing participation in Verizon’s non-cash incentive program rather than an open-market trade.

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Negative

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Insider Russo Joseph J.
Role EVP&Pres-Global Networks&Tech
Type Security Shares Price Value
Grant/Award Phantom Stock (unitized) 92.033 $11.99 $1K
Holdings After Transaction: Phantom Stock (unitized) — 83,309.114 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 92.033 units Grant on July 1, 2026
Unit reference price $11.99 per unit Phantom stock valuation
Underlying common stock 26 shares Economic equivalent for new phantom grant
Total phantom stock after grant 83,309.114 units Deferred Compensation Plan balance after transaction
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 →
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)
07/01/2026		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)07/01/2026A92.033 (1) (1)Common Stock26$11.9983,309.114(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. Russo07/06/2026
** 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 did Joseph J. Russo report in the latest Verizon (VZ) Form 4?

Joseph J. Russo reported receiving a grant of phantom stock units under Verizon’s deferred compensation plan. The filing shows a non-market, compensation-related acquisition rather than a stock purchase or sale in the open market, reflecting ongoing participation in the company’s incentive programs.

How many phantom stock units did Verizon EVP Joseph Russo receive?

Joseph Russo received 92.033 phantom stock units credited to his deferred compensation plan. These units are cash-settled and economically linked to Verizon common stock, representing part of his compensation rather than a traditional stock purchase in the market.

How many Verizon phantom stock units does Joseph Russo hold after this Form 4?

After this transaction, Joseph Russo’s deferred compensation plan shows 83,309.114 phantom stock units. This total includes the latest 92.033-unit grant and additional units acquired through dividend reinvestment, providing long-term, cash-settled exposure to Verizon’s share performance.

Are Joseph Russo’s Verizon phantom stock units settled in shares or cash?

The phantom stock units are settled in cash, not Verizon shares. Each phantom unit is the economic equivalent of a portion of one share of common stock, with payment triggered by events Russo established under the company’s deferred compensation plan rules.

Does Joseph Russo’s Form 4 show open-market buying or selling of Verizon stock?

The Form 4 does not show open-market buying or selling of Verizon stock. It records a grant of phantom stock units in a deferred compensation plan, classified as a non-market, compensation-related acquisition rather than a discretionary trade in Verizon common shares.

What underlying Verizon common stock amount is tied to the new phantom units?

The 92.033 phantom stock units are economically tied to 26 shares of Verizon common stock. This linkage determines the cash value of the award, while the units themselves remain part of a cash-settled deferred compensation arrangement instead of direct share ownership.