Joseph J. Russo - Mar 2, 2023 Form 3 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 $: $0
Form type: 3
Date filed: 3/10/2023, 02:04 PM
Next filing: Mar 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	VZ	Common Stock						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
holding	VZ	Phantom Stock (unitized)							Mar 2, 2023	Common Stock	9.46K		By Deferred Compensation Plan	F1
holding	VZ	Special Restricted Stock Units - 2020 Award							Mar 2, 2023	Common Stock	5.63K		Direct	F2
holding	VZ	Performance Stock Units - 2021 Award							Mar 2, 2023	Common Stock	4.33K		Direct	F3
holding	VZ	Restricted Stock Units - 2021 Award							Mar 2, 2023	Common Stock	1.92K		Direct	F4
holding	VZ	Special Restricted Stock Units - 2021 Award							Mar 2, 2023	Common Stock	14.6K		Direct	F5
holding	VZ	Performance Stock Units - 2022 Award							Mar 2, 2023	Common Stock	7.43K		Direct	F6
holding	VZ	Restricted Stock Units - 2022 Award							Mar 2, 2023	Common Stock	6.61K		Direct	F7
holding	VZ	Restricted Stock Units - 2023 Award							Mar 2, 2023	Common Stock	46.7K		Direct	F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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. The number of shares is based upon 33,149.165 units held as of March 2, 2023.
F2	Each Special Restricted Stock Unit (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 on December 1, 2023.
F3	Each Performance Stock Unit (PSU) represents the right to receive one share of common stock, plus accrued dividends, on the payment date with respect to the date that the PSU vests. The PSUs will vest on December 31, 2023, subject to the terms of the PSU Agreement, which also provides for an additional number of units to vest if certain performance conditions unrelated to the price of the issuer's stock are achieved.
F4	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 on March 1, 2024.
F5	Each Special RSU represents the right to receive an amount payable in cash equal to the economic equivalent of one share of common stock, plus accrued dividends, on the applicable vesting date. Subject to the terms of the RSU Agreement, the RSUs will vest on October 29, 2023.
F6	Each PSU represents the right to receive one share of common stock, plus accrued dividends, on the payment date with respect to the date that the PSU vests. The PSUs will vest on December 31, 2024, subject to the terms of the PSU Agreement, which also provides for an additional number of units to vest if certain performance conditions unrelated to the price of the issuer's stock are achieved.
F7	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 two equal installments on March 1, 2024 and March 1, 2025, respectively.
F8	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.