Form 4: Verizon EVP Joseph Russo Acquires Phantom Stock

Verizon's EVP and President of Global Networks and Technology, Joseph J. Russo, acquired 96.415 shares of phantom stock as part of a deferred compensation plan.

Summary

• Joseph J. Russo, Executive Vice President and President of Global Networks and Technology at Verizon Communications Inc., acquired 96.415 shares of phantom stock.
• The transaction date for this acquisition was November 6, 2025.
• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The phantom stock becomes payable upon events established by Mr. Russo in accordance with the deferred compensation plan.
• Following this transaction, Mr. Russo beneficially owns 68,936.455 shares of phantom stock indirectly through a deferred compensation plan.
• The reported beneficial ownership includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock by a key executive is generally a positive signal, indicating continued alignment of management's interests with shareholder value and participation in long-term incentive plans. The transaction itself is routine for executive compensation.

Positives

• The acquisition of phantom stock aligns the executive's interests with those of shareholders, as the value is tied to the company's common stock performance.
• Participation in a deferred compensation plan indicates a structured approach to executive remuneration and retention.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Industry Context

This filing reflects a routine executive compensation event within the telecommunications industry, where equity-linked compensation, such as phantom stock, is a common practice to incentivize and retain key management personnel.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by an executive aligns their financial interests with the company's stock performance, potentially motivating decisions that enhance shareholder value.
• Employees: This transaction is part of executive compensation and does not directly impact the broader employee base.

Key Dates

Keywords

Verizon, VZ, Joseph Russo, Phantom Stock, Executive Compensation, Deferred Compensation, Insider Transaction, SEC Form 4