Russo Joseph J. 4

What Happened

• Joseph J. Russo, Executive Vice President & President — Global Networks & Technology at Verizon (VZ), was granted 97.112 units of phantom stock on 2026-01-29. The award is valued at $11.37 per unit, for a total economic value of approximately $1,104. This was recorded as an award/acquisition (code A) and is a derivative, cash‑settled grant rather than an acquisition of common shares.

Key Details

• Transaction date: 2026-01-29; Filing date: 2026-01-30 (timely).
• Amount: 97.112 phantom stock units at $11.37 per unit; total value ≈ $1,104.
• Type: Award/Grant (derivative, cash‑settled phantom stock).
• Shares owned after transaction: Not reported in this filing.
• Footnotes: F1 — each phantom unit is the economic equivalent of a portion of one common share and is settled in cash under the deferred compensation plan; F2 — includes phantom stock acquired through dividend reinvestment.

Context

• Phantom stock is a derivative cash‑settled award that tracks the economic value of common shares but does not transfer actual shares unless/until the plan specifies settlement. Such grants are typically part of executive deferred compensation or incentive programs and are routine grants rather than open‑market purchases or sales.