01—Abstract
Summary
Summary of the 8-K filed February 2, 2024. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- Executive compensation adjustment for CFO Anthony T. Skiadas approved on January 31, 2024.
- Base salary for Mr. Skiadas increased from $800,000 to $1,000,000, effective January 1, 2024.
- Target long-term incentive opportunity for Mr. Skiadas increased from $7,000,000 to $8,500,000.
- The Human Resources Committee of the Board of Directors approved these changes.
- This filing is primarily informational regarding executive compensation and does not indicate other significant operational or financial changes at this time.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
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.
What specific compensation changes were made for the CFO?
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.
Who approved these compensation changes?
The compensation changes were approved by the Human Resources Committee of Verizon's Board of Directors.
Does this filing indicate any other significant company news or financial results?
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.
04—Continue