Joseph J. Russo - Mar 2, 2023 Form 4 Insider Report for VERIZON COMMUNICATIONS INC (VZ)

Role
EVP&Pres-Global Networks&Tech
Signature
Brandon N. Egren, Attorney-in-fact for Joseph J. Russo
Stock symbol
VZ
Transactions as of
Mar 2, 2023
Transactions value $
-$22,423
Form type
4
Date filed
3/6/2023, 01:59 PM
Next filing
Mar 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VZ Common Stock Options Exercise +1.85K +12.65% 16.5K Mar 2, 2023 Direct F1
transaction VZ Common Stock Tax liability -$22.7K -591 -3.58% $38.41 15.9K Mar 2, 2023 Direct
holding VZ Common Stock 4.86K Mar 2, 2023 By 401(k)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VZ Restricted Stock Units - 2020 Award Options Exercise -1.85K -100% 0 Mar 2, 2023 Common Stock 1.85K Direct F1, F2
transaction VZ Restricted Stock Units - 2023 Award Award $0 +22.9K +96.43% $0.00 46.7K Mar 2, 2023 Common Stock 22.9K Direct F3
transaction VZ Phantom Stock (unitized) Award $277 +25.3 +0.08% $10.96 33.1K Mar 2, 2023 Common Stock 7 By Deferred Compensation Plan F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit (RSU) represents the right to receive one share of common stock on the payment date with respect to the date that the RSU vests.
F2 Subject to the terms of the RSU agreement, the RSUs vest in three equal annual installments beginning on March 2, 2021.
F3 Each RSU represents the right to receive one share of common stock, plus accrued dividends, on the payment date with respect to the date that the RSU vests. Subject to the terms of the RSU Agreement, the RSUs will vest in three equal annual installments beginning on March 1, 2024.
F4 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.
F5 Includes phantom stock acquired through dividend reinvestment.