Form 4: Verizon Executive Reports Changes in Beneficial Ownership
SEC Filing
Joseph J. Russo, EVP & President of Global Networks & Technology at Verizon, filed a Form 4 detailing changes in his beneficial ownership of Verizon Communications Inc. securities.
Summary
- On August 19, 2024, Joseph J. Russo, an Executive Vice President at Verizon Communications Inc., filed a Form 4 with the SEC.
- The filing reports changes in his beneficial ownership of Verizon securities.
- The reported transaction on August 15, 2024, involved phantom stock (unitized) acquired at a price of $11.43.
- He acquired 81.782 shares of phantom stock.
- Following the reported transaction, Russo beneficially owns 50,000.136 shares of common stock indirectly through a deferred compensation plan, including phantom stock acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting changes in beneficial ownership, which carries a neutral sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders. This filing is typical for executives who participate in deferred compensation plans and receive stock-based compensation.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of transaction involving phantom stock acquisition. |
| 08/19/2024 | Date of Form 4 filing. |
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