Read our 2024 Proxy Press Release here.
Members of the non-profit Association of BellTel Retirees, Inc. have two shareholder proposals that will be voted on at the 2024 Verizon (NYSE: VZ) annual shareowner meeting taking place on May 9, 2024. The first centers on the senior executive clawback policy and the second targets lead cables.
The Executive Clawback policy is item #6 on the Verizon proxy ballot, and the Lead Cables proxy is item #9 on the 2024 Verizon proxy ballot.
The Executive Clawback policy proposes: “Verizon shareholders urge our Board of Directors to amend the Company’s Senior Executive Clawback Policy to state that “conduct” – not “willful misconduct” – may trigger application of that policy, with the Board or its Human Resources Committee to report to shareholders the results of any deliberations about whether to cancel or seek recoupment of compensation paid, granted or awarded to a senior executive.”
The Lead Cables proxy proposes: “The shareholders request that Verizon Communications undertake a comprehensive independent study and publicly release an independent report by December 2024 that demonstrates the Company has assessed all potential sources of liability related to lead‑sheathed cables, including a comprehensive mapping of the locations impacted and conclusions on the potential cost of remediation, along with the most responsible and cost‑effective way to prioritize the remediation of sites that pose a risk to public health.”
Read our 2023 Proxy Press Release here.
The Association has a long history of actively attacking senior management compensation excesses and poor corporate governance. A healthy Verizon is extremely important to our Association, employees, retirees, customers and investors. We feel that correction of such practices will benefit all stakeholders. We have a record of success in the proxy proposal arena that is unmatched by anyone in the world. The Association has won eleven proposals, three by majority vote and eight that the company agreed to without a majority mandate. This demonstrates that Verizon understands that shareholders care about such matters. Further, this record shows that by combining the voting power of our membership with other shareholders who we influence through our out-reach process can make improvements that will better serve the corporation and all of its stakeholders.
Association of BellTel Retirees Proxy Proposal History
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