Form 4: Verizon EVP Acquires Phantom Stock

Verizon's EVP and President of Global Networks and Technology, Joseph J. Russo, acquired 88.31 units of phantom stock through a deferred compensation plan.

Summary

• Joseph J. Russo, EVP and President of Global Networks and Technology at Verizon Communications Inc. (VZ), acquired 88.31 units of phantom stock.
• The transaction occurred on August 14, 2025.
• Each phantom stock unit was acquired at a price of $12.41.
• The acquisition was made indirectly through a deferred compensation plan.
• Phantom stock units are the economic equivalent of a portion of one share of common stock and are settled in cash.
• The acquired units include phantom stock obtained through dividend reinvestment.
• Following this transaction, Joseph J. Russo beneficially owns a total of 67,212.119 phantom stock units.

Sentiment

Score: 5

Explanation: The transaction is a routine executive compensation event, specifically a small acquisition of phantom stock via dividend reinvestment, which is neutral in terms of market sentiment.

Positives

• Acquisition of phantom stock by an executive indicates continued participation in the company's long-term compensation structure.
• The inclusion of dividend reinvestment suggests a routine, ongoing accumulation of benefits for the executive.

Negatives

• The acquired amount of 88.31 units, valued at approximately $1,096.02, is relatively small for an executive, suggesting it is a routine compensation component rather than a significant new investment or vote of confidence.

Industry Context

This is a routine executive compensation disclosure. It does not provide broader industry trends or competitive insights into the telecommunications sector.

Comparison to Industry Standards

• This transaction is a standard component of executive compensation, specifically phantom stock acquired through a deferred compensation plan, which is common across large corporations in the telecommunications and other sectors.
• For example, major telecommunications companies like AT&T (T) and T-Mobile (TMUS) also utilize various forms of equity-linked compensation, including phantom stock or restricted stock units, for their executives to align interests with shareholders and provide long-term incentives.
• The specific value of this acquisition ($1,096.02) is small, suggesting it is likely a routine dividend reinvestment rather than a significant new grant, which is a common feature of such executive compensation plans.

Related Party Transactions

• Acquisition of phantom stock by an executive (Joseph J. Russo) from the company (Verizon Communications Inc.) through a deferred compensation plan, which is a standard related party transaction for executive compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact due to the small size of the transaction, but it reflects ongoing executive participation in compensation plans.
• Employees: No direct impact mentioned.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing details a routine, small acquisition of phantom stock by an executive, likely through dividend reinvestment. Such a transaction is a standard component of executive compensation and does not provide new material information to warrant a change in investment recommendation. It reflects ongoing executive participation in the company's long-term incentive plans but is not indicative of significant new insider buying or a change in company fundamentals. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present a compelling reason to buy or sell.

Keywords

Verizon, VZ, Joseph J. Russo, Phantom Stock, Deferred Compensation, Executive Compensation, Insider Transaction, SEC Form 4, Dividend Reinvestment