Verizon Communications Reports on Preliminary Shareholder Vote Results at Annual Meeting

Verizon Communications Inc. (NYSE, NASDAQ:VZ) has announced preliminary results of the shareholder vote at its annual meeting here today.  The company reported that a substantial majority of the shareholders approved the following management proposals:

  • Election of each of Verizon's 12 directors standing for election to a one-year term.
  • Ratification of the appointment of Ernst & Young as the company's independent registered public accounting firm.
  • Approval of the overall executive pay-for-performance compensation policies and procedures employed by the company.
  • Approval of the Verizon Board's recommendation that shareholders vote in favor of holding future advisory votes related to executive compensation every year.

In addition, all four shareholder proposals were defeated: disclose prior government service, performance thresholds of performance stock units, cumulative voting and shareholder right to call a special meeting.

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