Verizon EVP receives new phantom stock award

Verizon Communications executive Joseph J. Russo, EVP & President-Global Networks & Technology, reported an acquisition of 83.860 unitized phantom stock on July 30, 2026, held indirectly through a deferred compensation plan.

Rhea-AI Filing Summary

Verizon Communications executive Joseph J. Russo, EVP & President-Global Networks & Technology, reported an acquisition of 83.860 unitized phantom stock on July 30, 2026, held indirectly through a deferred compensation plan. This phantom stock is cash-settled, economically tied to common stock, and becomes payable upon future events selected under the plan. Following this award and related dividend reinvestment, Russo now holds 83,481.068 phantom stock units, corresponding to 24 underlying shares of common stock within the plan.

Insider Trade Summary

Grant/Award: 83.86 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	83.86	$13.16	$1K

Holdings After Transaction: Phantom Stock (unitized) — 83,481.068 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: 83.8600 units Total phantom stock after transaction: 83481.0680 units Underlying common stock: 24.0000 shares

3 metrics

Phantom stock units acquired 83.8600 units Grant of unitized phantom stock on July 30, 2026

Total phantom stock after transaction 83481.0680 units Indirect holdings via deferred compensation plan after award and dividend reinvestment

Underlying common stock 24.0000 shares Common stock underlying the reported phantom stock award

Key Terms

Phantom Stock (unitized), Deferred Compensation Plan, dividend reinvestment

3 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.

FAQ

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

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

Joseph J. Russo acquired 83.860 unitized phantom stock linked to Verizon common stock, held indirectly via a deferred compensation plan. This award is cash-settled and increases his total phantom stock holdings to 83,481.068 units after the transaction and dividend reinvestment.

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

After the reported transaction, Joseph J. Russo holds 83,481.068 phantom stock units in Verizon, indirectly through a deferred compensation plan. This balance includes units acquired via dividend reinvestment in addition to the newly awarded 83.860 units.

How is the phantom stock for Verizon (VZ) executive Joseph J. Russo settled?

Russo’s phantom stock is settled in cash rather than actual Verizon shares. Each unit is the economic equivalent of a portion of one share of common stock and becomes payable upon specified events under the deferred compensation plan that Russo has established.

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

The phantom stock units are held indirectly by Joseph J. Russo through a deferred compensation plan. The nature of ownership is reported as indirect, reflecting plan-based holdings rather than shares owned outright in a traditional brokerage account.

What underlying Verizon (VZ) common stock amount is tied to Joseph J. Russo’s new phantom stock award?

The newly acquired phantom stock units correspond to 24 underlying shares of Verizon common stock. Each phantom stock unit represents the economic equivalent of a portion of a share, with final value delivered in cash according to plan terms.

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

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Available on EDGAR 08/03/2026 - 12:39 PM Accepted by SEC EDGAR 08/03/2026 - 12:38 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)
07/30/2026

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)	07/30/2026		A		83.86		(1)	(1)	Common Stock	24	$13.16	83,481.068(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	08/03/2026
	** 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)