This excerpt taken from the VZ DEF 14A filed Mar 17, 2008.
On January 31, 2008, there were approximately 2.87 billion shares of Verizon common stock outstanding. In the following table, you can find information showing the number of shares of Verizon common stock beneficially owned by each of the named executive officers, each Director, each person who served as a Director in 2007 and all executive officers and Directors as a group as of January 31, 2008. This information includes shares held in Verizons employee savings plans and shares that may be acquired within 60 days pursuant to the exercise of stock options and/or the conversion of certain stock units under deferred compensation plans. The aggregate number of shares owned by executive officers and Directors represents less than one percent of the total number of outstanding shares of Verizon common stock. Unless we have indicated otherwise, each individual and/or his or her family member(s) has or have sole or shared voting and/or investment power with respect to the securities. Executive officers and Directors also have interests in other stock-based units under Verizon deferred compensation plans. We have included these interests in the Total column in the table below to show the total economic interest that the executive officers and Directors have in Verizon common stock.