Verizon exec Russo granted 78 phantom stock units

VERIZON COMMUNICATIONS INC (VZ) reported that executive officer Joseph J. Russo, EVP & President–Global Networks & Technology, acquired 78.249 units of phantom stock (unitized) on 2026-08-27 through a deferred compensation plan.

Rhea-AI Filing Summary

VERIZON COMMUNICATIONS INC (VZ) reported that executive officer Joseph J. Russo, EVP & President–Global Networks & Technology, acquired 78.249 units of phantom stock (unitized) on 2026-08-27 through a deferred compensation plan. After this grant, his indirectly held phantom stock balance in the plan is 84,873.655 units, economically tied to Verizon common stock and payable in cash under the plan’s terms.

Insider Trade Summary

Grant/Award: 78.249 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	78.249	$14.11	$1K

Holdings After Transaction: Phantom Stock (unitized) — 84,873.655 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 acquired: 78.249 units Price per phantom stock unit: $14.11 Phantom stock units following transaction: 84,873.655 units +1 more

4 metrics

Phantom stock units acquired 78.249 units Grant, award, or other acquisition on 2026-08-27

Price per phantom stock unit $14.11 Reported transaction value per unit for the 2026-08-27 grant

Phantom stock units following transaction 84,873.655 units Indirect holdings in deferred compensation plan after the grant

Underlying common stock equivalent 22.000 shares Underlying Verizon common stock associated with the phantom stock units

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, economic equivalent, settled in cash

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.

economic equivalent financial

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

settled in cash financial

"is the economic equivalent of a portion of one share of common stock and is settled in cash"

FAQ

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

What transaction did VZ executive Joseph J. Russo report on this Form 4?

He reported a grant of 78.249 phantom stock (unitized) units on 2026-08-27, classified as a grant, award, or other acquisition under the company’s deferred compensation plan and economically linked to Verizon common stock.

How many phantom stock units in total does Joseph J. Russo hold after this VZ transaction?

Following the reported grant, Joseph J. Russo has an indirect holding of 84,873.655 phantom stock units in a deferred compensation plan, as disclosed in the Form 4 filing for Verizon Communications Inc. (VZ).

What is the economic nature of the phantom stock reported by VZ for Joseph J. Russo?

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

Did the VZ Form 4 indicate any buying or selling of Verizon common stock by Joseph J. Russo?

No. The filing shows an acquisition of derivative phantom stock units, not open-market purchases or sales of Verizon common stock. The underlying security is common stock, but the instrument itself is a cash-settled phantom stock award.

Were any of Joseph J. Russo’s VZ phantom stock units acquired through dividend reinvestment?

Yes. A footnote states that the reported total includes phantom stock acquired through dividend reinvestment within the deferred compensation plan, in addition to the newly granted units.

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

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Available on EDGAR 08/31/2026 - 12:05 PM EDT Accepted by SEC EDGAR 08/31/2026 - 12:04 PM EDT 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)
08/27/2026

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)	08/27/2026		A		78.249		(1)	(1)	Common Stock	22	$14.11	84,873.655(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	08/31/2026
	** 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)