Russo Joseph J. 4

What Happened
Joseph J. Russo, EVP & President — Global Networks & Technology at Verizon Communications (VZ), was granted 10,726.558 shares of phantom stock on 2026-02-26. The award is reported at an imputed price of $13.95 per share for a total value of $149,635. This transaction is coded "A" (award/grant/other acquisition) and is a derivative, cash‑settled award (not an open‑market purchase).

Key Details

• Transaction date: 2026-02-26; filing date: 2026-02-27 (filed timely).
• Quantity/value: 10,726.558 phantom shares at $13.95 each = $149,635.
• Transaction code: A (award/grant/other acquisition); derivative (cash-settled).
• Footnotes: F1 — phantom shares are cash-settled, and 5,323.706 of the total may be reallocated into other plan investments; payable under deferred compensation plan. F2 — includes phantom shares acquired via dividend reinvestment.
• Shares owned after the grant: not reported on the Form 4.

Context
Phantom stock gives the holder the economic equivalent of company shares but is settled in cash and does not convey immediate voting rights or transfer of actual common stock. Such grants are typically compensation under deferred‑compensation plans rather than outright purchases and are therefore not a direct market sentiment signal.