Verizon reports results of preliminary shareholder vote at 2021 annual meeting

Rhea-AI Summary

On May 13, 2021, Verizon Communications announced preliminary results from its virtual annual shareholder meeting. Shareholders elected all nine directors for a one-year term and approved two management proposals: executive officer compensation and the appointment of Ernst & Young as independent accountants. However, three proposals related to shareholder rights and equity awards were defeated. Final vote results will be certified and posted on Verizon's investor website. Verizon generated $128.3 billion in revenue in 2020, providing diverse communication and entertainment services worldwide.

Positive

• Elected nine directors for a one-year term.
• Approved executive officer compensation as per the proxy statement.
• Ratified Ernst & Young LLP as independent accountants.

Negative

• Defeated proposals for shareholder rights to act by written consent.
• Amendment of executive compensation clawback policy failed.
• Shareholder ratification of annual equity awards not approved.

NEW YORK, May 13, 2021 (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 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 2021 proxy statement, and
• Ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm.

All three shareholder proposals were defeated: shareholder right to act by written consent; amend executive compensation clawback policy; and shareholder ratification of annual equity awards.

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, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. 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 preliminary results of Verizon's May 2021 shareholder vote?

The preliminary results showed all nine directors were elected, and two management proposals were approved.

Which proposals were defeated at Verizon's annual meeting in 2021?

Proposals for shareholder rights, executive compensation clawback policy amendments, and annual equity awards ratification were all defeated.

Who was appointed as Verizon's independent accounting firm in 2021?

Ernst & Young LLP was ratified as Verizon's independent registered public accounting firm.

How much revenue did Verizon generate in 2020?

Verizon generated $128.3 billion in revenue in 2020.

Where can I find the final results of Verizon's 2021 shareholder vote?

Final results will be posted on Verizon's investor website after certification.