Form 4: Verizon Executive Joseph Russo Acquires Phantom Stock Through Dividend Reinvestment

Joseph J. Russo, EVP and President of Global Networks and Technology at Verizon Communications Inc., acquired 88.727 phantom stock units through dividend reinvestment, increasing his indirect holdings in the company's deferred compensation plan.

Summary

• Joseph J. Russo, an Executive Vice President and President of Global Networks and Technology at Verizon Communications Inc. (VZ), acquired 88.727 phantom stock units on June 5, 2025.
• The acquisition was made at a price of $12.35 per phantom stock unit, totaling approximately $1,095.99 in value.
• These phantom stock units were acquired through dividend reinvestment, as indicated in the filing's explanations.
• Each phantom stock unit is the economic equivalent of a portion of one share of Verizon common stock and is settled in cash.
• Following this transaction, Mr. Russo beneficially owns a total of 65,727.166 phantom stock units, held indirectly through a deferred compensation plan.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to the executive's continued accumulation of company-linked equity through dividend reinvestment, indicating ongoing commitment, although the transaction itself is routine and small.

Positives

• The acquisition of additional phantom stock units increases the executive's indirect beneficial ownership in the company.
• The transaction occurred via dividend reinvestment, indicating a continued long-term commitment to the company's deferred compensation plan and a reinvestment of earnings.

Negatives

• The acquired amount of 88.727 phantom stock units is relatively small in comparison to the executive's total holdings, suggesting a routine, rather than a significant, investment decision.

Future Outlook

This Form 4 filing is a report of an insider transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a routine insider transaction report and does not provide information relevant to broader industry trends or competitive analysis within the telecommunications sector.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is a routine, small-scale executive compensation-related event.
• For employees, it reinforces the structure of executive compensation and deferred plans within the company.

Key Dates

Keywords

Verizon, VZ, SEC Form 4, Insider Transaction, Phantom Stock, Deferred Compensation, Executive Compensation, Dividend Reinvestment