Form 4: Verizon Executive Acquires Phantom Stock Units Through Deferred Compensation Plan
SEC Form 4 Filing
Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon, reports the acquisition of phantom stock units through a deferred compensation plan.
Summary
- On October 24, 2024, Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., acquired 78.256 units of phantom stock through a deferred compensation plan.
- Each unit of phantom stock is equivalent to a portion of one share of common stock and will be settled in cash upon events established by Russo in accordance with the deferred compensation plan.
- Following the transaction, Russo beneficially owns 50,382.229 units of phantom stock, including those acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment, but rather provides transparency into insider transactions.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.
Stakeholder Impact
- Shareholders can monitor insider transactions to assess management's alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 10/24/2024 | Date of transaction: Joseph J. Russo acquired phantom stock units. |
| 10/28/2024 | Date of report: Form 4 filing date. |
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