Management ChangeJul 24, 2026, 09:11 AM
Verizon Extends CEO Daniel Schulman's Employment to Dec 2028
AI Summary
Verizon Communications Inc. announced an amendment to CEO Daniel H. Schulman's employment agreement, extending his initial term from December 31, 2027, to December 31, 2028. Following this, the agreement will be subject to annual one-year extensions. For calendar year 2028, Mr. Schulman will receive an annual base salary and target annual incentive no less than the prior year's levels, along with a long-term incentive award targeting at least $25 million.
Key Highlights
- CEO Daniel H. Schulman's employment term extended from December 31, 2027, to December 31, 2028.
- Employment Agreement term subject to annual one-year extensions after initial term.
- For 2028, Mr. Schulman will receive an annual base salary and target annual incentive no less than 2027 levels.
- Mr. Schulman will receive a long-term incentive award for 2028 with a target value of at least $25 million.
- Time-based vesting for the 2028 LTI award will be satisfied upon termination due to a succession event.
- Compensation for years after 2028 will be determined by the Board.
Price Impact
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