Form 4: Verizon Executive Acquires Phantom Stock Units Through Deferred Compensation Plan

Joseph J. Russo, an EVP at Verizon, acquired 84.346 phantom stock units through a deferred compensation plan on January 16, 2025.

Summary

• Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., acquired 84.346 units of phantom stock on January 16, 2025.
• These phantom stock units are economically equivalent to a portion of one share 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 $10.94 per unit.
• Following the transaction, Mr. Russo beneficially owns 51,681.797 phantom stock units, including those acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral to positive. It indicates that the executive is invested in the company's performance.

Positives

• The acquisition of phantom stock units aligns the executive's interests with the company's performance.
• The deferred compensation plan allows for tax-advantaged savings and investment.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies like Verizon.

Comparison to Industry Standards

• Many large publicly traded companies use deferred compensation plans and phantom stock as part of their executive compensation packages.
• These plans are designed to align executive interests with shareholder value and are a common practice across the telecommunications industry and other sectors.
• Companies like AT&T and T-Mobile also use similar compensation methods for their executives.

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, equity