Form 4: Verizon Executive Acquires Phantom Stock Units

A Verizon executive, Joseph J. Russo, acquired phantom stock units equivalent to 80.453 shares of common stock on January 2, 2025, through a deferred compensation plan.

Summary

• Joseph J. Russo, an Executive Vice President at Verizon, acquired 80.453 units of phantom stock on January 2, 2025.
• These phantom stock units are economically equivalent to shares of common stock and will be settled in cash.
• The acquisition was made through a deferred compensation plan.
• The price of the phantom stock was $11.47 per unit.
• Following the transaction, Mr. Russo beneficially owns 51,597.451 phantom stock units, including those acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to slightly positive as it aligns executive interests with company performance.

Positives

• The acquisition of phantom stock units by a high-ranking executive may indicate confidence in the company's future performance.

Future Outlook

The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

This type of transaction is common for executive compensation packages in publicly traded companies, aligning executive interests with shareholder value.

Comparison to Industry Standards

• Phantom stock grants are a common form of executive compensation, similar to practices at companies like AT&T (T) and T-Mobile (TMUS).
• These grants are often part of a broader compensation strategy that includes salary, bonuses, and other equity-based awards.
• The vesting and payout terms of phantom stock can vary, but they generally aim to incentivize long-term performance and retention.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, insider trading, Verizon, VZ, stock units