Form 4: Verizon Executive Acquires Phantom Stock

Verizon's EVP & President of Global Networks & Technology, Joseph J. Russo, acquired 98.215 units of phantom stock through a deferred compensation plan.

Summary

• Joseph J. Russo, Executive Vice President and President of Global Networks & Technology at Verizon Communications Inc., acquired 98.215 units of phantom stock.
• The transaction occurred on January 15, 2026, as part of a deferred compensation plan.
• Each unit of phantom stock is the economic equivalent of a portion of one share of Verizon 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.
• The acquisition included phantom stock obtained through dividend reinvestment.
• Following this transaction, Mr. Russo beneficially owns 69,411.903 derivative securities indirectly through the deferred compensation plan.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock by a key executive, even through a deferred compensation plan, is generally viewed as a minor positive signal, indicating continued alignment of management's interests with the company's performance.

Positives

• An executive's acquisition of phantom stock, even if through a compensation plan, can signal continued alignment with shareholder interests and confidence in the company's future performance.

Future Outlook

This filing, a Form 4, reports an insider transaction and does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction is specific to Verizon Communications Inc. and its executive compensation structure, and does not directly relate to broader industry trends or competitor activities.

Related Party Transactions

• The acquisition of phantom stock occurred through a deferred compensation plan, which is a transaction between the company and a key executive (a related party).

Stakeholder Impact

• Shareholders may view the executive's acquisition of phantom stock as a positive indicator of management's commitment and confidence in the company's long-term prospects.

Key Dates

Recommendation

This Form 4 filing reports a routine insider acquisition of phantom stock through a deferred compensation plan. While it represents a minor positive signal of executive alignment and confidence, it is not a significant enough event on its own to warrant a 'buy' or 'sell' recommendation. Investors should 'hold' their position and consider this as a data point within a broader investment thesis for Verizon.

Keywords

Verizon, VZ, Joseph J. Russo, insider transaction, Form 4, phantom stock, executive compensation, deferred compensation