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VZ » Topics » Verizon Wireless Results and Awards

This excerpt taken from the VZ DEF 14A filed Mar 17, 2008.

Verizon Wireless Results and Awards

 

Verizon Wireless continued its industry-leading performance in key financial and operating areas. It reported significant growth in service revenue, EBITDA and net income and industry-leading net retail customer additions and overall customer loyalty.

 

  · Verizon Wireless reported $38.0 billion in service revenue, $16.9 billion in EBITDA and $3.8 billion in net income (reflecting Verizon’s 55% ownership of Verizon Wireless).
  · Verizon Wireless reported 6.9 million in net retail customer additions.
  · Verizon Wireless achieved 98% of its composite customer service/network performance measure.
  · Verizon Wireless achieved 110% of its diversity measure for new hires and promotions and 112% of its diversity supplier spending measure.

 

The Committee approved a Short-Term Plan award payment of $1,032,000 to Mr. McAdam based on the level of achievement of the Verizon Wireless performance measures. This resulted in his 2007 annual incentive award being paid at 14.7% above the target level. The annual incentive awards for all of Verizon Wireless’ employees were based upon the same level of attainment of the performance measures used to determine the payment for Mr. McAdam.

 

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