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VZ » Topics » Terms of 2006 PSU Awards

This excerpt taken from the VZ DEF 14A filed Mar 23, 2009.

Terms of 2006 PSU Awards

With respect to the PSUs awarded in 2006, the Committee determined the number of PSUs a participant earned based on Verizon’s TSR for the 2006-2008 three-year performance cycle relative to the TSRs of:

 

  · The companies in a telecommunications industry peer group shown below, referred to as the Industry Peers (60% weight); and
  · The companies in the S&P 500 Index (40% weight).

 

For PSUs awarded prior to the 2008–2010 award cycle, including the 2006 PSU awards, the Committee compared the Company’s stock performance to the Industry Peers to determine a portion of the award. The Industry Peers were selected because they are companies that compete directly with Verizon for customers and are generally affected by similar market and regulatory conditions. The Committee based the remainder of the award on the Company’s TSR performance compared to the companies in the S&P 500 Index in order to approximate the value of the Company’s performance compared to a common investment alternative for shareholders.

 

The following chart shows the Industry Peers as of December 31, 2008. As previously indicated, the Industry Peers include companies in Verizon’s industry sector (regardless of size) that provide wireline, wireless and broadband communications services.

 

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