7 unchanged sentences
The new ERP system is designed to enhance the flow of financial information, facilitate data analysis and accelerate information reporting.
−Removed: The implementation is expected to occur in phases over the next several years.
+Added: The implementation is ongoing and is expected to continue over the next few years.
As the phased implementation of the new ERP system continues, we could have changes to our processes and procedures which, in turn, could result in changes to our internal controls over financial reporting.
7 unchanged sentences
Based on this assessment, management believes that the internal control over financial reporting of Verizon is effective as of December 31, 2024.
−Removed: In connection with this assessment, there were no material weaknesses in Verizon’s internal control over
−Removed: financial reporting identified by management.
+Added: In connection with this assessment, there were no material weaknesses in Verizon’s internal control over financial reporting identified by management.
The Company’s independent registered public accounting firm, Ernst & Young LLP, has provided an attestation report on Verizon’s internal control over financial reporting and is included in Item 8 of this Annual Report.
11 unchanged sentences
Sowmyanarayan Sampath 48 Executive Vice President and Group CEO - Verizon Consumer
−Removed: Craig Silliman
−Removed: 56 Executive Vice President and President - Verizon Global Services
Anthony Skiadas 56 Executive Vice President and Chief Financial Officer 2023
Mary-Lee Stillwell 51 Senior Vice President and Controller 2023
−Removed: Vandana Venkatesh 52 Executive Vice President and Chief Legal Officer 2022
−Removed: Each of the above officers has held the indicated office or other high-level managerial positions with the Company or one of its subsidiaries for at least five years, with the exception of Samantha Hammock and Mary-Lee Stillwell, who have both been with Verizon since 2020.
+Added: Vandana Venkatesh 53 Executive Vice President - Public Policy and Chief Legal Officer
+Added: Each of the above officers has held the indicated office or other high-level managerial positions within the Company or one of its subsidiaries for at least five years, with the exception of Samantha Hammock and Mary-Lee Stillwell, who have both been with Verizon since 2020.
Officers are not elected for a fixed term of office and may be removed from office at any time at the discretion of the Board of Directors.
9 unchanged sentences
For other information required by this item, see the sections entitled "Governance — Item 1:
−Removed: Election of Directors — Nominees for election and — Election process, — Our governance framework — Where to find more information, — Board committees — Audit Committee and — Other risk-related matters — Business conduct and ethics" in our definitive Proxy Statement to be filed with the Securities and Exchange Commission and delivered to shareholders in connection with our 2024 Annual Meeting of Shareholders, which are incorporated herein by reference.
+Added: Election of Directors — Election process and — Nominees for election, — Our governance framework — Board committees — Audit Committee, — Other risk-related matters — Business conduct and ethics and — Insider trading policy, and — Where to find more information" in our definitive Proxy Statement to be filed with the Securities and Exchange Commission and delivered to shareholders in connection with our 2025 Annual Meeting of Shareholders, which are incorporated herein by reference.
Executive Compensation
49 unchanged sentences
Number Description
+Added: Agreement and Plan of Merger, dated as of September 4, 2024, by and among Verizon Communications Inc., Frontier Communications Parent, Inc.
+Added: and France Merger Sub Inc.
+Added: (filed as Exhibit 2.1 to Form 8-K filed on September 5, 2024 and incorporated herein by reference).*
Restated Certificate of Incorporation of Verizon Communications Inc.
(filed as Exhibit 3a to Form 10-Q for the period ended June 30, 2014 and incorporated herein by reference).
−Removed: Bylaws of Verizon Communications Inc., as amended and restated, effective as of September 30, 2022 (filed as Exhibit 3b to Form 8-K filed on September 30, 2022 and incorporated herein by reference).
+Added: Bylaws of Verizon Communications Inc., as amended and restated, effective as of December 5, 2024 (filed as Exhibit 3b to Form 8-K filed on December 6, 2024 and incorporated herein by reference).
Indenture between Verizon Communications Inc., both individually and as successor in interest to Verizon Global Funding Corp., and U.S.
13 unchanged sentences
Bank National Association, as successor trustee to Wachovia Bank, National Association, formerly known as First Union National Bank, as Trustee, dated as of May 15, 2020 (filed as Exhibit 4.1 to Form 8-K filed on May 15, 2020, and incorporated herein by reference).
−Removed: Description of Verizon's Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934, filed herewith.
+Added: Description of Verizon's Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934.
2017 Verizon Communications Inc.
25 unchanged sentences
Verizon Senior Manager Severance Plan (filed as Exhibit 10d to Form 10-Q for the period ended March 31, 2010 and incorporated herein by reference).**
−Removed: List of principal subsidiaries of Verizon Communications Inc., filed herewith.
−Removed: Consent of Ernst & Young LLP, filed herewith.
−Removed: Powers of Attorney, filed herewith.
−Removed: Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.
−Removed: Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.
−Removed: Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.
−Removed: Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.
Verizon Communications Inc.
−Removed: Policy for the Recovery of Erroneously Awarded Compensation, filed herewith.
+Added: Policy on Insider Trading.
+Added: List of principal subsidiaries of Verizon Communications Inc.
+Added: Consent of Ernst & Young LLP.
+Added: Powers of Attorney.
+Added: Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
+Added: Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
+Added: Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
+Added: Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
+Added: Verizon Communications Inc.
+Added: Policy for the Recovery of Erroneously Awarded Compensation (filed as Exhibit 97 to Form 10-K for the year ended December 31, 2023 and incorporated herein by reference).
101.INS XBRL Instance Document - the instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.
5 unchanged sentences
104 Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101).
+Added: Schedules (or similar attachments) have been omitted from this filing pursuant to Item 601(a)(5) of Regulation S-K.
+Added: A copy of any omitted schedule will be furnished to the SEC upon request.
** Indicates management contract or compensatory plan or arrangement.
54 unchanged sentences
* Director February 12, 2025
+Added: Caroline Litchfield
* Director February 12, 2025
5 unchanged sentences
* Director February 12, 2025
−Removed: * Director February 9, 2024
/s/ Mary-Lee Stillwell
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.