Russo Joseph J. 4

What Happened

• Joseph J. Russo, EVP & President — Global Networks & Technology at Verizon (VZ), had restricted stock units (RSUs) convert into common stock on Feb 27, 2026. A total of 48,711 RSUs were settled (19,003 + 16,051 + 13,657).
• To satisfy tax withholding, 24,543 shares were surrendered/disposed at a withholding price of $50.14 per share, producing proceeds of $1,230,587. After withholding, Russo received 24,168 net shares.

Key Details

• Transaction date: February 27, 2026; Form 4 filed March 3, 2026 (timely filing).
• Conversion totals: 48,711 RSUs converted to common stock.
• Shares withheld for taxes (disposed): 24,543 shares at $50.14 per share; total tax payment/consideration = $1,230,587.
• Net shares issued to insider: 24,168 shares (48,711 converted − 24,543 withheld).
• Footnotes: RSUs represent the right to receive one share at settlement. Vesting schedules noted in the filing indicate these RSUs vest in three equal annual installments beginning March 1, 2024 / 2025 / 2026 (per footnotes F1–F4).
• Shares owned after the transaction: not specified in the provided filing summary.

Context

• This was a standard RSU settlement with shares withheld to cover tax obligations (a common, routine disposition), not an open-market sale signaling a trading decision. Derivative-coded entries (M) reflect exercise/conversion of RSU awards; F-coded entries reflect shares withheld/used to pay the tax liability.