Form 4: Verizon Executive Acquires Phantom Stock in Compensation Plan

Verizon's EVP & President of Global Networks & Technology, Joseph J. Russo, acquired 10,726.558 shares 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. (VZ), acquired 10,726.558 shares of phantom stock.
• The transaction occurred on February 26, 2026, as part of a deferred compensation plan.
• Each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash.
• Of the acquired amount, 5,323.706 shares of phantom stock may be reallocated into other plan investments.
• 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 81,378.827 shares of phantom stock, which includes amounts acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting a standard executive compensation mechanism that aligns management's long-term interests with the company's performance without indicating any new operational or strategic developments.

Positives

• The acquisition of phantom stock by a key executive aligns management's long-term financial interests with the company's performance, potentially incentivizing sustained growth and shareholder value.

Future Outlook

The phantom stock acquired by Joseph J. Russo will become payable upon events established by him in accordance with the deferred compensation plan.

Management Comments

• Joseph J. Russo, EVP & President-Global Networks & Tech, acquired phantom stock as part of his compensation plan.

Industry Context

StockSavvy.ai notes that executive compensation plans, including phantom stock, are common in large telecommunications companies like Verizon to incentivize long-term performance and align executive interests with shareholders. This type of filing is a routine disclosure of such compensation mechanisms.

Comparison to Industry Standards

• The use of phantom stock as a component of executive compensation is a standard practice across many large, publicly traded companies, particularly in mature industries like telecommunications. It provides executives with equity-like incentives without issuing actual shares immediately, often tied to deferred compensation plans. This aligns with compensation structures observed at peers such as AT&T (T) and T-Mobile (TMUS), which also utilize various forms of equity-based awards and deferred compensation for their senior leadership.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by a key executive can be seen as a positive signal of management's commitment and alignment with long-term shareholder value.

Next Steps

• The phantom stock will become payable upon events established by Joseph J. Russo in accordance with the deferred compensation plan.

Key Dates

Recommendation

This Form 4 details a routine executive compensation event involving phantom stock acquisition. It does not provide new fundamental information about Verizon's operational performance or strategic direction that would alter an investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals.

Keywords

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