Form 4: Verizon Executive Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon, reported the acquisition of phantom stock units equivalent to 73.445 shares of common stock through a deferred compensation plan.
Summary
- On September 26, 2024, Joseph J. Russo, an executive at Verizon Communications Inc., reported acquiring phantom stock units.
- These units are the economic equivalent of a portion of one share of common stock and are settled in cash.
- The transaction involved the acquisition of 73.445 phantom stock units at a price of $12.73 each.
- Following the transaction, Russo beneficially owns 50,227.69 phantom stock units through a deferred compensation plan, including those acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, providing transparency to the market.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it involves phantom stock units acquired through a deferred compensation plan.
Key Dates
| Date | Description |
|---|---|
| 09/26/2024 | Date of transaction: Joseph J. Russo acquired phantom stock units. |
| 09/30/2024 | Date of report: Form 4 filing date. |
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