Joseph J. Russo, EVP and President of Global Networks and Technology at Verizon Communications Inc., filed a Form 4 on November 6, 2026, disclosing an acquisition of phantom stock units under the company's deferred compensation plan on November 5, 2026.

Key Highlights

  • Reporting person: Joseph J. Russo, EVP and President of Global Networks and Technology at Verizon Communications Inc. (NYSE:VZ)
  • Security acquired: 83.803 units of phantom stock (unitized) on November 5, 2026, with transaction code A (acquired)
  • Price per unit: $13.17, held indirectly through the deferred compensation plan
  • Post-transaction holdings: 86,609.173 phantom stock units beneficially owned following the reported transaction, held indirectly by the deferred compensation plan
  • Nature of security: According to the filing, "each share of phantom stock is the economic equivalent of a portion of one share of common stock and is settled in cash"
  • Post-transaction total includes: Phantom stock acquired through dividend reinvestment, as noted in the filing's explanation of responses

Russo's Deferred Compensation Plan Phantom Stock Acquisition at Verizon

According to the filing, Joseph J. Russo, serving as Executive Vice President and President of Global Networks and Technology at Verizon Communications Inc., reported an acquisition of 83.803 units of phantom stock (unitized) on November 5, 2026. The transaction was recorded under transaction code A, indicating an acquisition, at a price of $13.17 per unit. The units are held indirectly through Verizon's deferred compensation plan.

The filing explains that each share of phantom stock "is the economic equivalent of a portion of one share of common stock and is settled in cash," and that "the shares of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan." Following this transaction, Russo's total beneficial ownership of phantom stock units stood at 86,609.173, held indirectly through the deferred compensation plan. The filing notes that this total includes phantom stock acquired through dividend reinvestment. The Form 4 was signed by Evgeniya Berezkina as attorney-in-fact for Joseph J. Russo and filed on November 6, 2026.

No non-derivative securities transactions were reported in Table I of this filing. The phantom stock units are classified as derivative securities in Table II, with the underlying security identified as common stock of Verizon Communications Inc.

What Was Disclosed

Joseph J. Russo, an officer of Verizon Communications Inc. (NYSE:VZ), reported an indirect acquisition of 83.803 phantom stock units on November 5, 2026, at $13.17 per unit under the company's deferred compensation plan, bringing his total indirect phantom stock holdings to 86,609.173 units.