Verizon Communications (VZ)

Stock Ownership Guidelines

To further align the interests of Verizon’s management with those of its shareholders, the Committee has approved guidelines that require each named executive officer and other executives to maintain certain stock ownership levels.

In determining whether an executive meets the required ownership level, the calculation includes any shares held by the executive directly or through a broker, shares held through the Verizon 401(k) plan or the Verizon nonqualified savings plan and other deferred compensation plans and arrangements that are valued by reference to Verizon’s stock. Beginning in 2008, the calculation does not include any existing or future PSUs and RSUs that are payable in cash. Executives are required to meet the ownership level for their position under these revised guidelines within three years.

Stock Ownership Guidelines

To strengthen the alignment of management and shareholder interests, the Committee has approved guidelines that require each named executive officer and other executives to maintain certain stock ownership levels.

In determining whether an executive meets the required ownership level, the calculation included the executive’s outstanding PSUs and RSUs, any shares held by the executive directly or through a broker, shares held through the Verizon 401(k) plan or the Verizon nonqualified savings plan and other deferred compensation plans and arrangements that are valued by reference to Verizon’s stock.

Beginning in 2008, all previously granted and future PSUs and RSUs that are payable in cash no longer count toward meeting these guidelines. Executives who are subject to these revised guidelines are required to meet the ownership level for their position within three years.