Form 4: Verizon Executive Joseph Russo Acquires Additional Phantom Stock Units

Verizon Communications Inc. EVP and President of Global Networks and Technology, Joseph J. Russo, reported the acquisition of 89.075 phantom stock units as part of a deferred compensation plan.

Summary

• Joseph J. Russo, EVP & President Global Networks & Tech at Verizon Communications Inc. (VZ), reported a transaction on May 22, 2025.
• The transaction involved the acquisition of 89.075 units of phantom stock.
• Each phantom stock unit is the economic equivalent of a portion of one share of common stock and is settled in cash.
• The phantom stock units become payable upon events established by the reporting person in accordance with the deferred compensation plan.
• Following this transaction, Mr. Russo beneficially owns a total of 65,638.439 phantom stock units indirectly through a Deferred Compensation Plan.
• This total includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive due to an executive increasing their holdings, even if it's a routine compensation-related acquisition of phantom stock. It indicates continued participation in the company's compensation structure.

Positives

• An executive increasing their holdings, even in phantom stock, can be viewed as a minor positive signal of alignment with shareholder interests, though this is a routine compensation-related acquisition.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding Verizon's future outlook.

Industry Context

This filing is a routine insider transaction report (Form 4) for an executive at a major telecommunications company. Such filings are common and typically reflect compensation arrangements rather than strategic shifts or market-moving events. They provide transparency into executive holdings but generally do not offer insights into broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: Provides transparency into executive compensation and holdings, showing alignment of executive interests with company performance through deferred compensation.

Key Dates

Keywords

Verizon, VZ, Form 4, Insider Transaction, Joseph J. Russo, Phantom Stock, Executive Compensation, Deferred Compensation Plan, Beneficial Ownership