Verizon Communications Reports on Preliminary Shareholder Vote Results at Annual Meeting

INDIANAPOLIS, May 5, 2011 /PRNewswire/ -- Verizon Communications Inc. (NYSE, NASDAQ: VZ) has announced preliminary results of the shareholder vote at its annual meeting here today.  The company reported that a substantial majority of the shareholders approved the following management proposals:

• Election of each of Verizon's 12 directors standing for election to a one-year term.
• Ratification of the appointment of Ernst & Young as the company's independent registered public accounting firm.
• Approval of the overall executive pay-for-performance compensation policies and procedures employed by the company.
• Approval of the Verizon Board's recommendation that shareholders vote in favor of holding future advisory votes related to executive compensation every year.

In addition, all four shareholder proposals were defeated: disclose prior government service, performance thresholds of performance stock units, cumulative voting and shareholder right to call a special meeting.

Vote tallies are considered preliminary until the final results are tabulated and certified by independent election inspectors.  The final results will be posted on Verizon's website at www.verizon.com.

Verizon Communications Inc. (NYSE, NASDAQ: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers.  Verizon Wireless operates America's most reliable wireless network, with more than 104 million total connections nationwide.  Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers seamless business solutions to customers around the world.  A Dow 30 company, Verizon employs a diverse workforce of more than 196,000 and last year generated consolidated revenues of $106.6 billion.  For more information, visit www.verizon.com.

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news.  To receive news releases by email, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon Communications

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