Russo Joseph J. 4
4 · VERIZON COMMUNICATIONS INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Verizon (VZ) EVP Joseph J. Russo Receives Phantom Stock Award
What Happened
Joseph J. Russo, EVP & President — Global Networks & Technology at Verizon (VZ), received a grant/award of 78.244 phantom stock units on 2026-02-12. The units were valued at $14.11 each, for a total economic value of approximately $1,104. This was an award (derivative grant) rather than an open-market purchase or sale.
Key Details
- Transaction date and price: 2026-02-12, 78.244 units @ $14.11 each (total ≈ $1,104).
- Transaction type: A = Award/Grant (derivative — phantom stock).
- Shares owned after transaction: Not disclosed in the Form 4 filing.
- Filing date: Form 4 filed 2026-02-17 (5 days after the transaction); this is later than the typical two-business-day reporting deadline for Form 4s.
- Footnotes:
- F1 — Each phantom share is an economic equivalent of a portion of a common share and will be settled in cash under the deferred compensation plan.
- F2 — The amount includes phantom stock acquired through dividend reinvestment.
Context
Phantom stock awards are cash-settled derivatives that track the economic value of company shares but do not represent immediate ownership of common stock. Such awards are common as part of deferred compensation and do not directly indicate a buy or sell signal in the market. The reported value here is modest (~$1.1k).
Insider Transaction Report
- Award
Phantom Stock (unitized)
[F1][F2]2026-02-12$14.11/sh+78.244$1,104→ 70,652.269 total(indirect: By Deferred Compensation Plan)→ Common Stock (22 underlying)
Footnotes (2)
- [F1]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 of phantom stock become payable upon events established by the reporting person in accordance with the deferred compensation plan.
- [F2]Includes phantom stock acquired through dividend reinvestment.