Russo Joseph J. 4

What Happened
Joseph J. Russo, EVP & President — Global Networks & Technology at Verizon (VZ), had 42,446 shares issued on vesting of performance stock units (PSUs) on 2026-02-11. To cover tax withholding, 18,529 of those shares were surrendered/withheld at $48.97 each (value ≈ $907,365). This was an award/vesting event and the withholding is a tax payment — not an open-market sale.

Key Details

• Transaction date: 2026-02-11; Form 4 filed 2026-02-13 (appears timely, within the 2-business-day filing window).
• Award: 42,446 shares issued on PSU vesting (no per-share price applicable).
• Withholding: 18,529 shares withheld/disposed at $48.97 each, total ≈ $907,365 (code F — tax withholding).
• Implied net shares delivered: 42,446 vested − 18,529 withheld = 23,917 net new shares added to Russo’s holdings (per filing math).
• Footnotes: F1 — shares issued upon vesting of PSUs based on performance criteria other than Verizon’s stock price; F2 — filing notes holdings include shares acquired via dividend reinvestment.
• Shares owned after the transaction: not specified in the provided summary of the filing.

Context
This was a routine compensation event: PSUs vested under performance-based criteria and the company withheld a portion to satisfy tax obligations. Withholding of vested shares for taxes is common and should not be interpreted as an open-market sale or a directional insider trade signal.