Form 4: Verizon Executive Joseph Russo Reports Acquisition of Phantom Stock

Joseph Russo, EVP & President of Global Networks & Technology at Verizon Communications Inc., reported the acquisition of phantom stock units and holdings in the deferred compensation plan.

Summary

• On February 27, 2025, Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., reported acquiring 11,353.263 shares of phantom stock.
• These shares were acquired under a deferred compensation plan.
• Each share of phantom stock is equivalent to one share of common stock and is settled in cash.
• Mr. Russo also indirectly owns 64,063.975 shares of common stock through a deferred compensation plan, including shares acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey any positive or negative sentiment about the company's performance or prospects.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Verizon. It provides transparency into the holdings of key personnel and their participation in company stock-based compensation plans.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar equity-based awards to align management's interests with those of shareholders.
• Companies like AT&T (T) and Comcast (CMCSA) also utilize similar compensation strategies for their executives.
• The specific terms and amounts of these awards vary based on company performance, industry benchmarks, and individual contributions.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.
• It assures stakeholders that executives' interests are aligned with those of the company.

Key Dates