Verizon reports results of preliminary shareholder vote at 2020 annual meeting

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NEW YORK – 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

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