Verizon Executive Joseph J. Russo Acquires Phantom Stock via Deferred Compensation Plan
VERIZON COMMUNICATIONS INC
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Filing Summary
📊 Form 4 Filing: Verizon Communications Inc (VZ)
Insider: Joseph J. Russo (EVP & Pres-Global Networks & Tech) Transaction: Acquisition (Code: A) Security: Phantom Stock (unitized) Units Acquired: 85.501 @ $12.91 (~$1,103.82) Units Owned After: 85,201.691 Ownership Nature: Indirect (By Deferred Compensation Plan) Filing Date: October 23, 2026 Significance: Low (Routine deferred compensation credit)
Comprehensive Analysis
Overview
On October 23, 2026, Joseph J. Russo, Executive Vice President and President of Global Networks and Technology at Verizon Communications Inc. ($VZ), filed a Form 4 disclosing the acquisition of unitized phantom stock.
Transaction Details
- Date of Transaction: October 22, 2026
- Security: Phantom Stock (unitized)
- Transaction Code:
A(Grant, award, or other acquisition) - Units Acquired: 85.501
- Price per Unit: $12.91
- Total Transaction Value: $1,103.82
- Post-Transaction Holdings: 85,201.691 phantom stock units (indirectly held via Deferred Compensation Plan)
Analysis & Significance
- Transaction Nature: The phantom stock units were acquired through Verizon's deferred compensation plan and settled in cash according to plan provisions.
- Market Impact: Low. This is a routine, automated non-discretionary credit under an executive deferred compensation arrangement, with negligible dollar value ($1,103.82), representing no material open-market buying or selling activity.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
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