Verizon reports preliminary results of shareholder vote at 2022 annual meeting

Rhea-AI Summary

Verizon Communications Inc. (NYSE: VZ) held its first in-person shareholder meeting since 2019 on May 12, 2022. Shareholders re-elected all eleven directors for one-year terms and supported two management proposals: executive compensation and the appointment of Ernst & Young LLP as the independent auditor. However, four shareholder proposals were defeated, including reports on charitable contributions and executive compensation policies. Preliminary vote results will be finalized and posted on Verizon’s website, with 2021 revenues reported at $133.6 billion.

Positive

• Shareholders re-elected all eleven directors for one-year terms.
• Management proposals on executive compensation and auditor appointment received shareholder approval.

Negative

• Four shareholder proposals, including those on charitable contributions and executive compensation policies, were defeated.

IRVING, Texas, May 12, 2022 (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 Irving, Texas, the company’s first in-person shareholder meeting since 2019.

Verizon’s shareholders elected each of Verizon’s eleven 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 2022 proxy statement; and
• Ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm.

All four shareholder proposals were defeated: report on charitable contributions; amend executive compensation clawback policy; shareholder ratification of annual equity awards; and report on business operations in China.

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 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 $133.6 billion in 2021. 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, security and control.

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:
Kim Ancin
908.801.0500
kimberly.ancin@verizon.com

Eric Wilkens
201.572.9317
eric.wilkens@verizon.com

FAQ

What were the results of Verizon's shareholder meeting on May 12, 2022?

Verizon's shareholders re-elected all eleven directors and approved two management proposals, but four shareholder proposals were defeated.

Which management proposals were approved at Verizon's annual meeting?

Shareholders voted in favor of executive compensation and the appointment of Ernst & Young LLP as the independent auditor.

What shareholder proposals were rejected at Verizon's 2022 meeting?

Proposals on charitable contributions, executive compensation clawback policy, annual equity awards ratification, and business operations in China were all defeated.