Verizon Heads Off Retiree Fight With Cuts To Exec Stock Perks

Law360, New York (March 19, 2013, 7:44 PM EDT) -- Verizon Communications Inc. said Monday that it would cut the payouts of stock bonuses to top executives when the company's shares lag behind its peers, heading off a battle with a retiree advocacy group ahead of the company's upcoming annual meeting.

If Verizon's stock underperforms that of 75 percent of a blue-chip peer group over a two-year period, its executives will get just 32 percent of their maximum stock bonuses, down from 50 percent under the old threshold, according to the company's annual proxy statement....
To view the full article, register now.