A statement of changes in beneficial ownership was filed on August 14, 2026, reporting that Joseph J. Russo, Executive Vice President and President of Global Networks and Technology at Verizon Communications Inc., acquired phantom stock units through the company's deferred compensation plan on August 13, 2026.

Key Highlights

  • Reporting person: Joseph J. Russo, EVP and President of Global Networks and Technology at Verizon Communications Inc. (NYSE:VZ)
  • Transaction date: August 13, 2026, with the filing submitted August 14, 2026
  • Securities acquired: 80.201 units of Phantom Stock (unitized) at a price of $13.76 per unit
  • Underlying security: Each phantom stock unit represents the economic equivalent of a portion of one share of common stock, settled in cash
  • Post-transaction holdings: 84,795.406 phantom stock units held indirectly through the deferred compensation plan, including units acquired via dividend reinvestment
  • Transaction code: A (acquisition), filed by one reporting person; signed by Evgeniya Berezkina as attorney-in-fact

Russo's Deferred Compensation Plan Activity at Verizon

According to the filing, Joseph J. Russo acquired 80.201 units of Phantom Stock (unitized) on August 13, 2026, at a price of $13.76 per unit. The transaction was recorded under transaction code A, indicating an acquisition. Russo serves as Executive Vice President and President of Global Networks and Technology at Verizon Communications Inc., a major U.S. telecommunications company that provides wireless and wireline services to consumer and enterprise customers.

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." The shares become payable "upon events established by the reporting person in accordance with the deferred compensation plan." The filing also notes that the total post-transaction holdings of 84,795.406 units include phantom stock acquired through dividend reinvestment, and that all holdings are held indirectly through the deferred compensation plan. The form was signed by Evgeniya Berezkina as attorney-in-fact for Russo.

What Was Disclosed

The filing reported an acquisition of 80.201 phantom stock units by Verizon officer Joseph J. Russo on August 13, 2026, at $13.76 per unit through a deferred compensation plan, bringing his total indirect holdings to 84,795.406 units.