Association of BellTel Retirees

Retirees Fight to Strengthen Clawback Policy, Limit Executive Golden Parachutes at Verizon

Retrieved on: 
Monday, April 4, 2022
Item, NYSE, SPRING, Proxy, Failure, Indian stock exchange, Association of BellTel Retirees, Association, VZ, GLOBE, Policy, Pensioner, Public relations, Management, Verizon Communications

COLD SPRING HARBOR, N.Y., April 04, 2022 (GLOBE NEWSWIRE) -- Members of the non-profit Association of BellTel Retirees, Inc. have proposed shareholder proxies this year to strengthen the clawback policy and limit executive golden parachutes at Verizon (NYSE:VZ).

Key Points: 
  • COLD SPRING HARBOR, N.Y., April 04, 2022 (GLOBE NEWSWIRE) -- Members of the non-profit Association of BellTel Retirees, Inc. have proposed shareholder proxies this year to strengthen the clawback policy and limit executive golden parachutes at Verizon (NYSE:VZ).
  • The BellTel Retirees have a long history of shareowner proxy success at Verizon, acting as an integral check for better governance practices.
  • This measure seeks to strengthen the current golden parachute policy, which Verizon adopted following a successful 2003 BellTel-backed proxy measure that won with support from 59% of shares voted.
  • "In this era, far too many CEO golden parachutes are excessively bloated," said Frank Bruzek, a BellTel board director.

Verizon Retirees Achieve New Governance Reform

Retrieved on: 
Tuesday, January 11, 2022
VZ, Association of BellTel Retirees, NYSE, Securities & Exchange Commission of Pakistan, Committee, GLOBE, U.S. Securities and Exchange Commission, Association, Human resources, Workforce, SPRING, Security (finance), Policy, Acquisition, Management, Verizon Communications

have quietly and successfully achieved another important reform at Verizon (NYSE:VZ) and its corporate governance policies, the 12th change won through shareholder activism by the retiree organization, that aims to bring about greater workforce equity and inclusion practices.

Key Points: 
  • have quietly and successfully achieved another important reform at Verizon (NYSE:VZ) and its corporate governance policies, the 12th change won through shareholder activism by the retiree organization, that aims to bring about greater workforce equity and inclusion practices.
  • In November 2021, BellTel co-founder Robert Rehm filed a shareholder resolution asking Verizon to give the board direct responsibility for workforce equity issues.
  • This is now the 12th time BellTel Retirees have achieved enhancements to Verizons corporate governance and executive compensation policies.
  • Founded in 1996, the Association of BellTel Retirees Inc ., have long championed Verizon retiree shareholder rights, now including 12 proxy measures that have led to changes in corporate governance, three of those by outpolling the company in the shareowner vote.

Verizon Retirees: Don’t Prioritize Executive Compensation Over Shareowner Interests

Retrieved on: 
Friday, March 27, 2020
Executive compensation, Business, Employment, Corporations, Golden parachute, Termination of employment, VZ, Shareholder, Verizon Communications, Association of BellTel Retirees

COLD SPRING HARBOR, N.Y., March 27, 2020 (GLOBE NEWSWIRE) -- Retiree shareholders at Verizon (NYSE: VZ ) will present two proposals at this years annual meeting in an effort to rein in runaway executive compensation.

Key Points: 
  • COLD SPRING HARBOR, N.Y., March 27, 2020 (GLOBE NEWSWIRE) -- Retiree shareholders at Verizon (NYSE: VZ ) will present two proposals at this years annual meeting in an effort to rein in runaway executive compensation.
  • One proposal would require shareholder approval of any Verizon Golden Parachute plan (Item #8) that pays out severance or termination payouts that are equal to or greater than 300% of an executive officers base salary plus target short-term bonus.
  • A second executive compensation reform proposed by BellTel Retirees seeks to limit guarantees of Above-Market Returns on Nonqualified Executive Savings Plans (Item #4).
  • Whats good for a few executives, personally, may not be in the corporations best interest or the interest of shareholders.