The Board of Directors of Verizon Communications adopted a majority voting standard for the election of directors. Directors who consent to stand for re-election will tender their resignations prior to the annual meeting. If the number of shares voted “for” a director is less than the number of shares voted “against” that director, the independent members of the Board will decide whether to accept that director’s resignation and will promptly disclose their decision.
Verizon said that its bylaws previously provided that directors were elected under a plurality voting standard, which was based on the number of shares voted “for” each director without regard to any shares voted “withhold.”http://www.verizon.com
