Verizon grants phantom stock units to executive Russo

Verizon Communications Inc. reported that executive officer Joseph J. Russo, EVP & President–Global Networks & Technology, acquired 80.2010 units of Phantom Stock (unitized) on August 13, 2026 through a deferred compensation plan.

Rhea-AI Filing Summary

Verizon Communications Inc. reported that executive officer Joseph J. Russo, EVP & President–Global Networks & Technology, acquired 80.2010 units of Phantom Stock (unitized) on August 13, 2026 through a deferred compensation plan. Each phantom stock unit is the economic equivalent of a portion of one share of common stock, is settled in cash, and in this transaction corresponds to 23.0000 underlying common shares. Following this grant and dividend reinvestment, Russo’s indirect holdings under the deferred compensation plan total 84,795.4060 phantom stock units.

Insider Trade Summary

Grant/Award: 80.201 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	80.201	$13.76	$1K

Holdings After Transaction: Phantom Stock (unitized) — 84,795.406 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: 80.2010 units Price per phantom stock unit: $13.7600 Total phantom units after transaction: 84,795.4060 units +1 more

4 metrics

Phantom stock units acquired 80.2010 units Grant/award acquisition on 2026-08-13 under deferred compensation plan

Price per phantom stock unit $13.7600 Reported transaction price per phantom stock unit, footnote-qualified

Total phantom units after transaction 84,795.4060 units Indirect holdings by deferred compensation plan following the grant

Underlying common shares 23.0000 shares Underlying Verizon common stock equivalent for this phantom stock transaction

Key Terms

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

4 terms

Phantom Stock (unitized) financial

"security_title: "Phantom Stock (unitized)" reported as derivative security"

Deferred Compensation Plan financial

"nature_of_ownership noted as "By Deferred Compensation Plan" for the holdings"

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

"Footnote states "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.

economic equivalent financial

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

FAQ

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

What did Verizon (VZ) disclose about Joseph J. Russo’s latest Form 4 transaction?

Verizon disclosed that Joseph J. Russo acquired 80.2010 phantom stock units on August 13, 2026 under a deferred compensation plan, increasing his indirect phantom stock holdings to 84,795.4060 units tied economically to Verizon common stock.

How is the phantom stock reported for Verizon (VZ) EVP Joseph J. Russo structured?

The phantom stock units are economic equivalents of portions of Verizon common shares and are settled in cash. In this transaction, 80.2010 units correspond to 23.0000 underlying common shares, with payout timing based on elections under the deferred compensation plan.

Is Joseph J. Russo’s phantom stock ownership in Verizon (VZ) direct or indirect?

The filing shows Russo’s holdings as indirect, with ownership noted as “By Deferred Compensation Plan.” This means the phantom stock units are held within a deferred compensation arrangement rather than as directly owned Verizon common stock shares.

What is the total phantom stock held for Joseph J. Russo after this Verizon (VZ) Form 4?

After the reported grant, Russo’s total indirect holdings under the plan are 84,795.4060 phantom stock units. This figure includes units acquired through dividend reinvestment, as specified in the filing’s footnotes.

Does the Verizon (VZ) Form 4 indicate market buying or selling by Joseph J. Russo?

No market trade is reported. The code “A” indicates a grant or award acquisition of phantom stock units under a compensation plan, rather than an open-market purchase or sale of Verizon common stock.

When will Joseph J. Russo receive value from these Verizon (VZ) phantom stock units?

The filing states that phantom stock units become payable upon events Russo established under the deferred compensation plan. Payment is settled in cash, not in Verizon shares, at those specified future events.

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

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Accepted by SEC EDGAR 08/14/2026 - 04:15 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)
08/13/2026

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)	08/13/2026		A		80.201		(1)	(1)	Common Stock	23	$13.76	84,795.406(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	08/14/2026
	** 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)