Russo Joseph J. 4

What Happened

• Joseph J. Russo, EVP & President — Global Networks & Technology at Verizon (VZ), was granted 76.447 shares of phantom stock (derivative award) on 2026-03-12. The award is reported at $14.44 per share for a total economic value of approximately $1,104. This is an award/grant (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-12; reported filing date: 2026-03-13 (filed next day).
• Instrument: Phantom stock (cash‑settled derivative) — 76.447 units @ $14.44 each; total value ≈ $1,104.
• Shares owned after transaction: Not specified in the provided transaction data.
• Footnotes: F1 — Each phantom share is the economic equivalent of a portion of one common share and is settled in cash; payout is governed by the reporting person's elections under the deferred compensation plan. F2 — Includes phantom stock acquired through dividend reinvestment.
• Timeliness: Filing appears timely (reported period 2026-03-12; filing 2026-03-13).

Context

• Phantom stock is a deferred, cash‑settled award that tracks the economic value of common shares; recipients do not receive or hold actual common stock unless and until the plan settles in cash. Such compensation awards are routine elements of executive pay and do not necessarily indicate a personal buy/sell decision in the market.