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Stock Together

As Verizon creates the networks that move the world forward, we want every employee to feel that they are part of this employee movement and our Purpose. This is why we are introducing Stock Together.

Stock Together program is a broad-based equity award program that creates an opportunity for all of us to share in the success of Verizon and the value we help to create through a discretionary award of Verizon Restricted Stock Units (RSUs).

  • What is Stock Together?




  • I got Stock Together






  • My Stock Together vested






  • Support






What is Stock Together?

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RSUs, DEUs, vesting schedule, oh my...


What is an RSU?

A Restricted Stock Unit or “RSU” is a hypothetical share of Verizon common stock. The RSU awards vest (or are earned) over a 3-year period, with 1/3 of the RSUs vesting on each of the first, second and third year anniversaries of the grant date. If you satisfy the vesting requirement for the award, you will receive a cash payment equal to the value of the RSUs that vest on each of the applicable vesting dates.

What is a DEU?

Dividend Equivalent Units (DEUs) are additional units that will be added to your RSU balance and are equivalent in value to the actual dividend payment made to Verizon shareholders. A DEU will be credited for each quarterly dividend that is declared by Verizon’s Board of Directors after the grant date. DEUs are only paid for awards that ultimately vest.

What's a vesting schedule?

In order for you to vest (or earn) the RSUs, you must remain actively employed by the Company through each of the three vesting dates. If you leave Verizon before the last vesting date, the reason you leave will determine what happens to your unvested RSUs.

I got Stock
Together,
what now?

Where can I see
all this stuff?

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I got Stock Together.
Where do I see my grant?

Visit www.NetBenefits.com/Verizon to keep track of your Stock Together awards.


I got Stock Together.
What will I receive?

Eligible employees will receive an award of RSUs in a fixed dollar amount based on their job level, work location, and scheduled hours on the grant date. The award value for wireline associates is based on eligibility to participate in a Verizon pension plan.

The actual number of RSUs each employee will receive will be determined by dividing the employee’s fixed dollar amount by the closing price of a share of Verizon common stock on the grant date. For example, if your award amount is $2,000 and Verizon’s closing price on the grant date is $60.00, you will receive 34 RSUs - $2,000 / $60.00 = 33.333 units rounded up to the nearest whole unit = 34 RSUs. Eligible international employees will receive a cash bonus opportunity that will be based on and will track the value of RSUs.

The actual value of your payout depends upon the closing price of Verizon’s common stock on each of the vesting dates in year 1, year 2, and year 3, subject to any tax withholding obligations and legally required deductions. An example is below:

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Assumes a $60 grant price, 2% annual stock price increase over 3 years, and quarterly DEUs over 3 years

My Stock
Together
vested,
what's next?

How do I get paid?

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My Stock Together vested. How do I get paid?

Vested RSUs will be paid in cash through your Fidelity brokerage account as soon as administratively possible after each of the vesting dates. For those employees that are in certain countries, the payment will be made through your local Payroll. The payments are subject to any tax withholding obligations.

Support

Fidelity Facts

As a reminder, here’s how you can log into Fidelity. Visit www.NetBenefits.com/Verizon to keep track of your Stock Together awards.

Here, you can find other important information, such as:

• Your Grant Notice

• The Verizon Long Term Incentive Plan document

• The value of your RSUs

• Vesting dates

• and Other resources Fidelity provides as our stock plan services provider

Below are the links to the Account Activation Instructions.

US

Fidelity Account Activation Instructions - US Employees

Outside of US

Fidelity Account Activation Instructions - International Employees

FAQs

What is Stock Together?

Verizon celebrates its winning culture by sharing success with all of its employees. The Stock Together program creates opportunities for the Verizon team to rally around our Purpose and move forward together.

Who is eligible?

All domestic and international broad-based employees who are actively at work (or who are on approved military leave) on the Grant Date are eligible.

What do I get?

Eligible employees will receive a discretionary award of RSUs in a fixed dollar amount based on their job level, work location and scheduled work hours on the Grant Date. The award value for wireline associates is based on eligibility to participate in a Verizon pension plan.

How many RSUs will I receive?

The actual number of RSUs each employee will receive will be determined by dividing the employee’s fixed dollar award amount by the closing price of a share of Verizon Communications Inc. common stock on the NYSE on the Grant Date.

When does it vest?

RSUs will vest over 3 years with 1/3rd vesting on each anniversary of the Grant Date, if you satisfy the vesting requirements for the award.

Do I get DEUs?

Yes! Dividend Equivalent Units (DEUs) are additional units that will be added to your RSU balance and are equivalent in value to the actual dividend payment made to Verizon shareholders. A DEU will be credited for each quarterly dividend that is declared after the Grant Date. Dividend equivalents are only paid for awards that ultimately vest.

What actions do I need to take?

You will need to go to www.NetBenefits.com/Verizon to view your Stock Together award. You must activate your account once you receive your first grant. The terms and conditions of your Stock Together award are set forth in your Grant Notice, which you can access by logging into your Fidelity account.

Interested in joining Verizon? ​Learn more