Verizon Reports Results of Preliminary Shareholder Vote at 2020 Annual Meeting
May 07 2020 - 5:23PM
Verizon Communications Inc. (NYSE, Nasdaq: VZ) has announced
preliminary results of the shareholder vote at its first
virtual-only annual meeting today. In light of the public health
concerns raised by the COVID-19 pandemic and the related protocols
that federal, state and local authorities have implemented, the
meeting was held in a virtual-only format.
Verizon’s shareholders elected each of Verizon’s nine 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 2020 proxy statement, and
- Ratified the appointment of Ernst & Young LLP as the
company’s independent registered public accounting firm.
Four shareholder proposals were defeated: eliminate an
investment option under the nonqualified executive savings plan;
expand disclosure of the company’s lobbying activities and
expenditures; issue a report on the feasibility of incorporating a
user privacy metric into executive incentive compensation; and
amend the company’s existing policy providing for shareholder
approval of executive severance arrangements. A shareholder
proposal that calls for an amendment to the company’s bylaws to
allow a group of shareholders owning at least 10% of Verizon’s
stock to call special shareholder meetings was approved by a slim
margin.
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 on
June 30, 2000 and is celebrating its 20th year as one of the
world’s leading providers of technology, communications,
information and entertainment products and services. Headquartered
in New York City and with a presence around the world, Verizon
generated revenues of $131.9 billion in 2019.
The company offers voice, data and video
services and solutions on its award winning networks and platforms,
delivering on customers’ demand for mobility, reliable network
connectivity, security and control.
VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media
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Media contact:Kim
Ancin908.801.0500kimberly.ancin@verizon.com
Eric Wilkens201.572.9317eric.wilkens@verizon.com
Verizon Communications (NYSE:VZ)
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