Verizon reports preliminary results of shareholder vote at 2024 annual meeting

Rhea-AI Summary

Verizon Communications Inc. announced preliminary results of the shareholder vote at the 2024 annual meeting, with all 10 directors elected to a one-year term. Shareholders approved the compensation of executive officers and ratified Ernst & Young LLP as the independent accounting firm. However, all seven shareholder proposals were defeated, including those on political contributions, lobbying disclosure, executive compensation clawback, and civil liberties in digital services.

BASKING RIDGE, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) has announced preliminary results of the shareholder vote at its annual meeting, which was held today in a virtual-only format.

Verizon’s shareholders elected each of Verizon’s 10 directors to a one-year term. Shareholders also voted in favor of two management proposals:

• Approved the compensation of the company’s named executive officers as described in the 2024 proxy statement; and
• Ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm.

All seven shareholder proposals were defeated: prohibit political contributions study; expand disclosure of the company’s lobbying activities; amend executive compensation clawback policy; adopt an independent chair policy; issue a report regarding civil liberties in digital services; issue a lead-sheathed cable report; and report annually on the alignment of political expenditures with company strategy and values.

Vote tallies are considered preliminary until the final results are tabulated and certified by independent inspectors of election. The final results will be posted on Verizon’s website at www.verizon.com/about/investors.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed in 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, and security.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Katie Magnotta
katie.magnotta@verizon.com
201-602-9235

FAQ

What were the results of the shareholder vote at Verizon's 2024 annual meeting?

All 10 directors were elected to a one-year term. Shareholders approved executive officer compensation and ratified Ernst & Young LLP as the independent accounting firm. However, all seven shareholder proposals were defeated.

When was Verizon Communications Inc. formed?

Verizon Communications Inc. was formed in 2000.

What is Verizon's stock symbol?

Verizon's stock symbol is VZ.

Where can the final shareholder vote results be found?

The final results will be posted on Verizon's website at www.verizon.com/about/investors.