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Program Reference



The slides and documents used by Mr. Reda in the NYSSA presentation summarized below can be downloaded from the following link:

The compensation reports used as examples in the presentation were from the following SEC filings of 2007 proxy statements:

For examples of applications, see

Note: Mr. Reda has been serving on the Advisory Panel of the Options Policies Forum that developed principles for reporting compensation information.



NYSSA Corporate Governance Committee

presentation of

What Analysts Can Find in Compensation Reports




Thursday, October 25, 2007


3:30pm to 4:30pm


New York Society of Security Analysts (“NYSSA”)

1177 Avenue of the Americas, 2nd Floor

(between 45th and 46th Streets)

New York, New York 10022

Photo identification will be required for access to the building


Reservations required,* open without charge to all NYSSA members and participants in the Options Policies and Verizon Forum programs

Valuation Issues to be Addressed


James F. Reda of Reda & Associates, the prominent adviser to board compensation committees, will guide meeting participants through the new SEC-mandated corporate compensation disclosures to find previously unavailable information they can use in their evaluations of securities, focusing on

    details of performance goals, including probabilities of achievement

    relation of executive compensation to performance goals, as indicators of management incentives and confidence

    potential impact of compensation on earnings per share

The presentation is intended for professionals concerned with researching and analyzing corporate investments, and will be specifically applicable to the analytical process being demonstrated in the Shareholder Forum for Verizon Communications, Inc.

The program will be chaired by David Silverman of Blue Harbour Group, as Co-Chairman of NYSSA’s sponsoring Corporate Governance Committee.  Messrs. Reda and Silverman were both members of the Advisory Panel for the Options Policies Forum that defined principles for compensation information needed by investor and management decision-makers, and from which the Verizon Forum was developed.

More Information


Additional information, including reference material to be provided by Mr. Reda, will be posted on the Verizon Forum web site:

Information about NYSSA’s 14th Annual Financial Reporting Conference, which is being conducted immediately prior to this program, can be found on the NYSSA web site:

* Address reservation requests to:

   (NYSSA members can also register online.)



October 19, 2007






This Forum program is open, free of charge, to all Verizon Communications, Inc. ("VZ") shareholders and to any fiduciaries or professionals concerned with their investment decisions.  Its purpose is to provide shareholders with access to information and a free exchange of views on issues relating to their evaluations of alternatives, addressing issues described in the Forum Summary.

As stated in the posted Conditions of Participation, all Forum participants are expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants.  It is a Forum rule that participants will not be identified or quoted without their explicit permission.

The Verizon Forum program has been organized with the support of the Association of BellTel Retirees Inc., believed to be the world’s largest such organization with over 110,000 members who are retired employees of Verizon and its predecessor companies.

Inquiries and requests to be included in the Forum's distribution list may be addressed to  The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material.

All material on this web site is published by Gary Lutin, who is responsible for conducting the Forum.