Form 4: Verizon Executive Reports Acquisition of Phantom Stock Units

Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon, reports acquiring phantom stock units equivalent to 133.702 shares of common stock at $12.47 per unit.

Summary

• On March 13, 2025, Joseph J. Russo, an EVP & President at Verizon Communications Inc., reported acquiring phantom stock units.
• The transaction involved the acquisition of 133.702 phantom stock units at a price of $12.47 per unit.
• These phantom stock units are the economic equivalent of common stock shares and are settled in cash upon certain events as per the deferred compensation plan.
• Following the reported transaction, Russo's indirectly held beneficial ownership includes 64,197.677 phantom stock units through a deferred compensation plan, inclusive of phantom stock acquired through dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation, with neutral sentiment.

Future Outlook

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

Industry Context

Executive compensation through phantom stock is a common practice in publicly traded companies, aligning executive interests with shareholder value by linking payouts to company performance.

Comparison to Industry Standards

• Phantom stock plans are a common form of executive compensation, similar to those offered by companies like AT&T (T) and Comcast (CMCSA).
• These plans often vest over a period of years and are settled in cash or stock upon the executive's retirement or departure.
• The specific terms of Verizon's deferred compensation plan, including vesting schedules and payout triggers, would need to be compared to industry benchmarks to assess its competitiveness.

Stakeholder Impact

• The acquisition of phantom stock units by a key executive can signal confidence in the company's future performance to shareholders.
• The deferred compensation plan impacts the executive's long-term financial incentives.

Key Dates