Form 4: Verizon Executive Acquires Phantom Stock Units

Verizon Communications Inc. executive Joseph J. Russo acquired phantom stock units valued at $80.976 per unit, totaling 81,612.535 units, as part of a deferred compensation plan.

Summary

• Joseph J. Russo, EVP & Pres-Global Networks & Tech at Verizon Communications Inc., acquired phantom stock units on April 9, 2026.
• The transaction involved 80.976 units, with each unit representing the economic equivalent of a portion of one share of common stock.
• These phantom stock units are settled in cash upon events established by the reporting person under a deferred compensation plan.
• The total number of phantom stock units beneficially owned following the transaction is 81,612.535.
• This acquisition includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports routine executive compensation transactions rather than significant financial performance or strategic shifts.

Positives

• Executive participation in deferred compensation plans can indicate confidence in the company's long-term value.
• Dividend reinvestment suggests a strategy to increase long-term holdings and benefit from company performance.

Negatives

• The filing details a transaction of phantom stock, which is a form of equity-linked compensation rather than a direct purchase of common stock.
• The value of phantom stock is tied to the company's stock price, but it does not represent direct ownership of shares.

Risks

• The value of phantom stock is subject to market fluctuations and the company's financial performance.
• The settlement of phantom stock is contingent upon specific events defined in the deferred compensation plan, introducing timing uncertainty.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance regarding future financial performance. The acquisition of phantom stock units is a reporting event related to executive compensation.

Management Comments

• Evgeniya Berezkina, Attorney-in-fact for Joseph J. Russo.

Industry Context

StockSavvy.ai notes that the use of phantom stock units is a common practice in the telecommunications industry for executive compensation, allowing executives to benefit from stock appreciation without direct share ownership, aligning their interests with shareholders.

Stakeholder Impact

• Shareholders: The transaction reflects executive compensation practices and does not directly impact share count or immediate shareholder value, but it aligns executive incentives with stock performance.
• Employees: The deferred compensation plan is specific to the reporting executive and does not directly affect other employees.
• Creditors: No direct impact on creditors is indicated by this filing.

Next Steps

• Settlement of phantom stock units upon events established by the reporting person in accordance with the deferred compensation plan.

Key Dates

Keywords

Verizon Communications, VZ, Form 4, Insider Trading, Executive Compensation, Phantom Stock, Deferred Compensation, Joseph J. Russo, Securities Ownership