IRVING, Texas, May 4, 2017 /PRNewswire/ -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) has announced preliminary results of the shareholder vote at its annual meeting here today.
Verizon's shareholders overwhelmingly elected each of Verizon's 12 directors to a one-year term. Shareholders also voted in favor of four management proposals:
- ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm;
- approved the compensation of the company's executive officers as described in the 2017 proxy statement;
- agreed with the Board recommendation that future advisory votes on executive compensation be held annually; and
- approved Verizon's 2017 Long-Term Incentive Plan.
Five shareholder proposals were defeated: establish a Human Rights Committee; issue a report on greenhouse gas reduction targets; amend executive compensation clawback policy; adopt a stock retention policy; and limit savings plan matching contributions for executives.
The preliminary results for one shareholder proposal, regarding amending the bylaws related to special shareholder meetings, are too close to determine whether the proposal passed or was defeated. The outcome will be determined by the final tabulation.
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.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, has a diverse workforce of 161,000 and generated nearly $126 billion in 2016 revenues. Verizon operates America's most reliable wireless network, with 113.9 million retail connections nationwide. The company also provides communications and entertainment services over mobile broadband and the nation's premier all-fiber network, and delivers integrated business solutions to customers worldwide.
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