Summary
This 8-K filing from Verizon Communications Inc. (VZ) primarily reports on a compensation adjustment for its Executive Vice President and Chief Financial Officer, Anthony T. Skiadas. Effective January 1, 2024, Mr. Skiadas's base salary has been increased, alongside a significant boost to his target long-term incentive opportunity. This change reflects the company's ongoing commitment to retaining and incentivizing key executive talent in a competitive market.
Key Highlights
- 1Executive compensation adjustment for CFO Anthony T. Skiadas approved on January 31, 2024.
- 2Base salary for Mr. Skiadas increased from $800,000 to $1,000,000, effective January 1, 2024.
- 3Target long-term incentive opportunity for Mr. Skiadas increased from $7,000,000 to $8,500,000.
- 4The Human Resources Committee of the Board of Directors approved these changes.
- 5This filing is primarily informational regarding executive compensation and does not indicate other significant operational or financial changes at this time.
Frequently Asked Questions
The main purpose of this 8-K filing is to report a change in the compensation for Verizon's Executive Vice President and Chief Financial Officer, Anthony T. Skiadas.
The CFO's base salary was increased from $800,000 to $1,000,000, and his target long-term incentive opportunity was increased from $7,000,000 to $8,500,000. Both changes are effective as of January 1, 2024.
The compensation changes were approved by the Human Resources Committee of Verizon's Board of Directors.
No, this particular 8-K filing is specifically focused on executive compensation adjustments for the CFO and does not contain information on broader financial results or other material business events.