Verizon Shareholders Vote

Verizon Communications announced final results of the shareholder vote at the company's annual meeting in Pittsburgh

May 18, 2007

1 Min Read

NEW YORK -- Verizon Communications Inc. (NYSE: VZ)today announced final results of the shareholder vote at the company'sannual meeting in Pittsburgh.

These results show that the shareholder proposal seeking an advisoryvote on senior executive compensation was approved, receiving 50.18 percentof the vote. In announcing preliminary results May 3, Verizon reported thatvoting had been too close to determine an outcome on the advisory proposal.Independent election inspectors have since tabulated and certified finalresults.

Verizon stated: "In furthering shareholder interests, the Board ofDirectors has established senior executive compensation practices that areclosely linked to company performance. The Board is committed to continuousreview of the company's compensation practices and will further considerits policies in light of the high level of shareholder interest and theactive discussion taking place with respect to the advisory vote issue in avariety of forums, including in the U.S. Congress."

As previously announced, all other shareholder proposals were notapproved, and the management proposals passed.

Shareholders approved the election of each of Verizon's 15 directorsstanding for election to a one-year term. Consistent with preliminaryresults, all directors were elected by a vote of at least 90.39 percent.Shareholders also ratified the appointment of Ernst & Young as thecompany's independent auditor with a 98.91 percent vote.

The following shareholder proposals did not receive a majority vote:eliminating stock options, 8.96 percent; shareholder approval of futureseverance agreements, 47.01 percent; compensation consultant disclosure,46.94 percent; limit service on outside boards, 11.97 percent; shareholderapproval of future poison pill, 18.98 percent; and report on charitablecontributions, 14.30 percent.

Verizon Communications Inc. (NYSE: VZ)

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