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

Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon Communications Inc., reported the acquisition of phantom stock units equivalent to 22 shares of common stock on July 18, 2024.

Summary

• On July 18, 2024, Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., reported acquiring phantom stock units.
• The transaction involved the acquisition of phantom stock equivalent to 22 shares of common stock at a price of $77.873 per share.
• Following the reported transaction, Russo beneficially owns 49,045.075 shares of phantom stock through a deferred compensation plan, including shares acquired through dividend reinvestment.
• The phantom stock is unitized and settled in cash, becoming payable upon events established by Russo in accordance with the deferred compensation plan.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing reporting an insider transaction. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The phantom stock becomes payable upon events established by the reporting person in accordance with the deferred compensation plan.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the compensation and stock ownership of key executives.

Key Dates