Russo Joseph J. 4

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).