[Form 4] Verizon Communications Insider Trading Activity
Joseph J. Russo, Executive Vice President and President of Global Networks & Technology at Verizon Communications (VZ), reported a Section 16 transaction dated 08/28/2025. The filing shows the acquisition of 87.451 units of unitized Phantom Stock, recorded as a derivative security, which are the economic equivalent of a portion of common stock and are settled in cash. The phantom shares are held indirectly under Verizon's deferred compensation plan and become payable according to elections made under that plan. The filing notes that the reported holdings include phantom stock acquired through dividend reinvestment. The Form 4 was signed by an attorney-in-fact on 08/29/2025.
Joseph J. Russo, vicepresidente esecutivo e presidente di Global Networks & Technology presso Verizon Communications (VZ), ha segnalato una operazione ai sensi della Sezione 16 datata 08/28/2025. La comunicazione indica l'acquisto di 87.451 unità di Phantom Stock unitizzate, registrate come strumento derivato, che rappresentano l'equivalente economico di una parte delle azioni ordinarie e vengono liquidate in contanti. Le azioni fantasma sono detenute indirettamente nell'ambito del piano di compensazione differita di Verizon e saranno pagate secondo le elezioni effettuate in base a quel piano. La segnalazione specifica che le partecipazioni riportate comprendono phantom stock ottenute tramite reinvestimento dei dividendi. Il Modulo 4 è stato firmato da un procuratore il 08/29/2025.
Joseph J. Russo, vicepresidente ejecutivo y presidente de Global Networks & Technology en Verizon Communications (VZ), informó una transacción conforme a la Sección 16 con fecha 08/28/2025. La presentación muestra la adquisición de 87.451 unidades de Phantom Stock unitizadas, registradas como un valor derivado, que equivalen económicamente a una porción de acciones ordinarias y se liquidan en efectivo. Las acciones fantasma se mantienen de forma indirecta bajo el plan de compensación diferida de Verizon y se abonarán según las elecciones realizadas en dicho plan. La presentación indica que las tenencias declaradas incluyen phantom stock adquiridas mediante reinvención de dividendos. El Formulario 4 fue firmado por un apoderado el 08/29/2025.
Joseph J. Russo, Verizon Communications(VZ)에서 Executive Vice President 겸 Global Networks & Technology 책임자는 08/28/2025자 섹션 16 거래를 보고했습니다. 제출서류에는 파생증권으로 분류된 단위화된 Phantom Stock 87.451단위의 취득이 기재되어 있으며, 이는 보통주 일부에 대한 경제적 등가물로 현금으로 결제됩니다. 이 팬텀 주식은 Verizon의 이연 보상 계획 하에 간접적으로 보유되며 해당 계획에서 선택한 방식에 따라 지급됩니다. 보고서는 신고된 보유내역에 배당금 재투자를 통해 취득한 팬텀 주식이 포함되어 있음을 명시합니다. Form 4는 08/29/2025에 대리인이 서명했습니다.
Joseph J. Russo, vice-président exécutif et président de Global Networks & Technology chez Verizon Communications (VZ), a déclaré une opération au titre de la Section 16 datée du 08/28/2025. Le dépôt indique l'acquisition de 87.451 unités de Phantom Stock unitisées, enregistrées comme un titre dérivé, qui constituent l'équivalent économique d'une partie des actions ordinaires et sont réglées en numéraire. Les actions fantômes sont détenues indirectement dans le cadre du plan de rémunération différée de Verizon et seront versées conformément aux choix effectués dans ce plan. Le dépôt précise que les avoirs déclarés comprennent des phantom stocks acquis via le réinvestissement des dividendes. Le formulaire 4 a été signé par un mandataire le 08/29/2025.
Joseph J. Russo, Executive Vice President und Präsident von Global Networks & Technology bei Verizon Communications (VZ), meldete eine Transaktion nach Section 16 mit Datum 08/28/2025. Die Meldung weist den Erwerb von 87.451 Einheiten unitisierter Phantom Stock aus, die als derivative Wertpapiere verbucht sind und das wirtschaftliche Äquivalent eines Teils von Stammaktien darstellen und bar abgewickelt werden. Die Phantom-Aktien werden indirekt im Rahmen von Verizons Plan zur aufgeschobenen Vergütung gehalten und gemäß den im Plan getroffenen Wahloptionen ausgezahlt. In der Meldung wird angegeben, dass die berichteten Bestände Phantom Stock enthalten, die durch Dividendenreinvestition erworben wurden. Das Formular 4 wurde am 08/29/2025 von einem Bevollmächtigten unterzeichnet.
- Acquisition recorded: 87.451 unitized Phantom Stock acquired on 08/28/2025
- Cash-settled structure: Phantom stock is settled in cash, not as immediate equity issuance
- Indirect holding via deferred compensation plan: Holdings are under Verizon's deferred compensation plan
- Dividend reinvestment noted: Reported holdings include phantom stock acquired through dividend reinvestment
- None.
Insights
TL;DR: Routine deferred-compensation crediting of phantom stock to an executive, reported under Section 16.
The Form 4 documents a non-derivative-equivalent grant: 87.451 unitized phantom stock credits that are cash-settled and held indirectly via Verizon's deferred compensation plan. This is a common executive compensation mechanism that does not immediately change common shares outstanding because settlement is in cash. The inclusion of dividend reinvestment is noted and simply increases the phantom balance. No direct sale of shares or exercise of equity options is indicated, and the filing does not disclose any change to outstanding common stock or immediate dilution.
TL;DR: Deferred compensation accrual recorded; represents a future cash obligation tied to phantom stock units.
The entry reflects accrual-type compensation rather than an open-market trade. Phantom stock units are described as cash-settled and payable per the reporting person's elections under the deferred compensation plan, indicating a contractual liability for Verizon rather than issuance of equity. The filing explicitly states dividend reinvestment increased the phantom balance. There is no information here about valuation methodology, payout timing, or whether the units are time-vested or performance-contingent, so materiality to cash flows or expense recognition cannot be assessed from this filing alone.
Joseph J. Russo, vicepresidente esecutivo e presidente di Global Networks & Technology presso Verizon Communications (VZ), ha segnalato una operazione ai sensi della Sezione 16 datata 08/28/2025. La comunicazione indica l'acquisto di 87.451 unità di Phantom Stock unitizzate, registrate come strumento derivato, che rappresentano l'equivalente economico di una parte delle azioni ordinarie e vengono liquidate in contanti. Le azioni fantasma sono detenute indirettamente nell'ambito del piano di compensazione differita di Verizon e saranno pagate secondo le elezioni effettuate in base a quel piano. La segnalazione specifica che le partecipazioni riportate comprendono phantom stock ottenute tramite reinvestimento dei dividendi. Il Modulo 4 è stato firmato da un procuratore il 08/29/2025.
Joseph J. Russo, vicepresidente ejecutivo y presidente de Global Networks & Technology en Verizon Communications (VZ), informó una transacción conforme a la Sección 16 con fecha 08/28/2025. La presentación muestra la adquisición de 87.451 unidades de Phantom Stock unitizadas, registradas como un valor derivado, que equivalen económicamente a una porción de acciones ordinarias y se liquidan en efectivo. Las acciones fantasma se mantienen de forma indirecta bajo el plan de compensación diferida de Verizon y se abonarán según las elecciones realizadas en dicho plan. La presentación indica que las tenencias declaradas incluyen phantom stock adquiridas mediante reinvención de dividendos. El Formulario 4 fue firmado por un apoderado el 08/29/2025.
Joseph J. Russo, Verizon Communications(VZ)에서 Executive Vice President 겸 Global Networks & Technology 책임자는 08/28/2025자 섹션 16 거래를 보고했습니다. 제출서류에는 파생증권으로 분류된 단위화된 Phantom Stock 87.451단위의 취득이 기재되어 있으며, 이는 보통주 일부에 대한 경제적 등가물로 현금으로 결제됩니다. 이 팬텀 주식은 Verizon의 이연 보상 계획 하에 간접적으로 보유되며 해당 계획에서 선택한 방식에 따라 지급됩니다. 보고서는 신고된 보유내역에 배당금 재투자를 통해 취득한 팬텀 주식이 포함되어 있음을 명시합니다. Form 4는 08/29/2025에 대리인이 서명했습니다.
Joseph J. Russo, vice-président exécutif et président de Global Networks & Technology chez Verizon Communications (VZ), a déclaré une opération au titre de la Section 16 datée du 08/28/2025. Le dépôt indique l'acquisition de 87.451 unités de Phantom Stock unitisées, enregistrées comme un titre dérivé, qui constituent l'équivalent économique d'une partie des actions ordinaires et sont réglées en numéraire. Les actions fantômes sont détenues indirectement dans le cadre du plan de rémunération différée de Verizon et seront versées conformément aux choix effectués dans ce plan. Le dépôt précise que les avoirs déclarés comprennent des phantom stocks acquis via le réinvestissement des dividendes. Le formulaire 4 a été signé par un mandataire le 08/29/2025.
Joseph J. Russo, Executive Vice President und Präsident von Global Networks & Technology bei Verizon Communications (VZ), meldete eine Transaktion nach Section 16 mit Datum 08/28/2025. Die Meldung weist den Erwerb von 87.451 Einheiten unitisierter Phantom Stock aus, die als derivative Wertpapiere verbucht sind und das wirtschaftliche Äquivalent eines Teils von Stammaktien darstellen und bar abgewickelt werden. Die Phantom-Aktien werden indirekt im Rahmen von Verizons Plan zur aufgeschobenen Vergütung gehalten und gemäß den im Plan getroffenen Wahloptionen ausgezahlt. In der Meldung wird angegeben, dass die berichteten Bestände Phantom Stock enthalten, die durch Dividendenreinvestition erworben wurden. Das Formular 4 wurde am 08/29/2025 von einem Bevollmächtigten unterzeichnet.
FAQ
What did Joseph J. Russo report on Form 4 for VZ?
Are the phantom shares settled in stock or cash?
How are the phantom units held for Russo?
Does the filing show dividend treatment for the phantom stock?
When was the Form 4 signed and by whom?
