Verizon extends CEO Daniel Schulman's term to Dec 2028; guarantees $25M LTI award for 2028

VERIZON COMMUNICATIONS INC

Initial employment term extended from Dec 31, 2027 to Dec 31, 2028; thereafter subject to annual one-year extensions.
For 2028, base salary and target annual incentive no less than during initial term; LTI award of at least $25M granted in Q1 2027.
LTI award time-based vesting deemed satisfied upon termination due to a succession event after grant date.
Compensation for years after 2028 to be determined by Board at time of band 1 executive decisions.

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