PHOENIX, May 1, 2014 /PRNewswire/ -- 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 11 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 compensation of the company's executive officers as described in the 2014 proxy statement.
- Approval of the proposal to implement proxy access, which allows shareholders to nominate Board candidates under certain conditions.
Five shareholder proposals were defeated: network neutrality, lobbying activities, severance approval policy, shareholder right to call a special meeting and shareholder right to act by written consent. The shareholder proposal relating to proxy voting authority was not presented for shareholder action at the 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.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with more than 103 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with more than $120 billion in 2013 revenues, Verizon employs a diverse workforce of 176,900. For more information, visit www.verizon.com.
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SOURCE Verizon Communications Inc.