Form 4: Verizon Executive Reports Acquisition of Phantom Stock Units

Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon, reported the acquisition of phantom stock units equivalent to 152.48 shares of common stock on February 29, 2024.

Summary

• On February 29, 2024, Joseph J. Russo, an executive at Verizon Communications Inc., reported acquiring phantom stock units.
• The acquisition involved 152.48 units of phantom stock, each equivalent to a portion of one share of common stock.
• These units were acquired through a deferred compensation plan and are settled in cash upon events established by the reporting person.
• Following the transaction, Russo's beneficial ownership includes 47,434.678 shares of common stock, including phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing regarding executive compensation, and does not contain any information that would significantly impact investor sentiment positively or negatively.

Future Outlook

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

Industry Context

Executive compensation through stock and phantom stock is a common practice in publicly traded companies like Verizon to align management's interests with those of the shareholders.

Comparison to Industry Standards

• Verizon's executive compensation practices, including the use of phantom stock, are generally in line with those of other large telecommunications companies such as AT&T (T) and T-Mobile (TMUS).
• These companies often use a mix of salary, stock options, restricted stock units (RSUs), and performance-based bonuses to incentivize their executives.
• The specific mix and terms of these compensation elements can vary widely based on company performance, industry trends, and individual executive roles.

Key Dates