Verizon Increases CEO's Long-Term Incentive Opportunity and Reclassifies Revenues

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announced an increase in the annual target long-term incentive opportunity for its Chairman and CEO, Hans Vestberg, from $18,000,000 to $25,000,000, effective for 2025. Additionally, Verizon disclosed changes in revenue classifications and phone metric calculations, as previously announced, with historical financial information provided for context.

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About Verizon Communications Inc.

Verizon Communications Inc. is a leading telecommunications company that provides a wide array of communication services and products in the United States and globally. As a major player in the telecommunication industry, Verizon's primary function is to deliver wireless communications, broadband, and fiber optic services, aiming to keep people connected across various platforms. The company’s notable features include its extensive 5G and fiber optic network infrastructure, which significantly impacts sectors like technology, media, and consumer communications. It offers services to individual consumers, businesses, and government entities through various channels, including its retail stores and online platforms. Headquartered in New York City, Verizon is crucial in driving innovation in communication technologies and maintaining robust network solutions to meet growing data demands. Its influence extends beyond traditional telecommunication, also impacting emerging fields such as Internet of Things (IoT) and smart cities, helping to shape the future of connectivity.