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For Verizon's announcement of the board actions reported in the article below, see

Note:  C. William Jones, referenced in the article below as President of the Association of BellTel Retirees, has been serving on the Advisory Panel of the Options Policies Forum that initiated attention to advisory voting issues in 2006 and subsequently developed principles for cooperative adaptation of policies.  Based on the foundation of that program, the Association then supported the organization of the current Verizon Forum program to examine the information needed by investors to understand how compensation incentives relate to the achievement of corporate performance objectives.


Investor Relations Magazine, November 2, 2007 article


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Verizon board OKs say on pay


Nov 02, 2007

Decision comes after majority shareholder vote


NEW YORK -- Verizon's board of directors yesterday approved a policy to give shareholders an advisory vote on executive compensation next year. The move comes after a proposal by shareholders passed narrowly with a 50.18 percent majority in May.

'Say on pay' proposals got majority support at seven companies in the last proxy season, according to the Corporate Library, but Verizon becomes one of the first major companies to adopt an advisory vote.

'This is a big plus for Verizon,' says the proposal's original sponsor, C. William Jones who leads the Association of Belltell Retirees. 'Even though it will be non-binding, I'm sure they're going to want a positive vote. It'll encourage them to be forthcoming and a little careful in what the compensation packages are.'

In a press release, Verizon director Sandra Moose said Verizon had been influenced by 'an ongoing dialogue with shareholders and others' since the proxy vote.

Anna Snider


© copyright 2007 Cross Border Ltd




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