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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _____________________________________________________________________________
FORM 8-K
 
 ______________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: March 18, 2025
(Date of earliest event reported)
 ______________________________________________________________________________
Verizon Communications Inc.
(Exact name of registrant as specified in its charter)
 _______________________________________________________________________________  
Delaware 1-8606 23-2259884
(State or other jurisdiction
of incorporation)		 (Commission File Number) (I.R.S. Employer Identification No.)
1095 Avenue of the Americas 10036
New York, New York
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (212) 395-1000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered
Common Stock, par value $0.10 VZ New York Stock Exchange
Common Stock, par value $0.10 VZ The Nasdaq Global Select Market
0.875% Notes due 2025 VZ 25 New York Stock Exchange
3.25% Notes due 2026 VZ 26 New York Stock Exchange
1.375% Notes due 2026 VZ 26B New York Stock Exchange
0.875% Notes due 2027 VZ 27E New York Stock Exchange
1.375% Notes due 2028 VZ 28 New York Stock Exchange
1.125% Notes due 2028 VZ 28A New York Stock Exchange
2.350% Fixed Rate Notes due 2028 VZ 28C New York Stock Exchange
1.875% Notes due 2029 VZ 29B New York Stock Exchange
0.375% Notes due 2029 VZ 29D New York Stock Exchange
1.250% Notes due 2030 VZ 30 New York Stock Exchange
1.875% Notes due 2030 VZ 30A New York Stock Exchange
4.250% Notes due 2030 VZ 30D New York Stock Exchange
2.625% Notes due 2031 VZ 31 New York Stock Exchange
2.500% Notes due 2031 VZ 31A New York Stock Exchange
3.000% Fixed Rate Notes due 2031 VZ 31D New York Stock Exchange
0.875% Notes due 2032 VZ 32 New York Stock Exchange
0.750% Notes due 2032 VZ 32A New York Stock Exchange
3.500% Notes due 2032 VZ 32B New York Stock Exchange
1.300% Notes due 2033 VZ 33B New York Stock Exchange
4.75% Notes due 2034 VZ 34 New York Stock Exchange
4.750% Notes due 2034 VZ 34C New York Stock Exchange
3.125% Notes due 2035 VZ 35 New York Stock Exchange
1.125% Notes due 2035 VZ 35A New York Stock Exchange
3.375% Notes due 2036 VZ 36A New York Stock Exchange
3.750% Notes due 2036 VZ 36B New York Stock Exchange
2.875% Notes due 2038 VZ 38B New York Stock Exchange
1.875% Notes due 2038 VZ 38C New York Stock Exchange
1.500% Notes due 2039 VZ 39C New York Stock Exchange
3.50% Fixed Rate Notes due 2039 VZ 39D New York Stock Exchange
1.850% Notes due 2040 VZ 40 New York Stock Exchange
3.850% Fixed Rate Notes due 2041 VZ 41C New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 18, 2025, the Human Resources Committee of the Board of Directors of Verizon Communications Inc. (Verizon) recommended, and the Board of Directors approved, an increase to the annual target long term incentive opportunity for its Chairman and Chief Executive Officer, Hans Vestberg, based on its assessment of the market competitiveness of his total compensation opportunity, his tenure and his experience. Mr. Vestberg’s target 2025 long term incentive opportunity increased from $18,000,000 to $25,000,000, and consistent with Mr. Vestberg's prior annual long-term incentive awards, the award is comprised of 67% performance stock units (PSUs) and 33% restricted stock units (RSUs). The PSUs and RSUs are subject to the same terms and conditions as the PSUs and RSUs granted to the other senior executives, which is consistent with prior year long-term incentive awards.
Item 7.01. Regulation FD Disclosure.

As previously disclosed, in the first quarter of 2025, Verizon reclassified recurring device protection and insurance related plan revenues from Other revenue into Wireless service revenue. In addition, beginning in the first quarter of 2025, Verizon will no longer count the impacts of the second number offering in calculating wireless retail postpaid phone net additions, wireless retail postpaid phone churn and other phone metrics.

As a convenience to investors, in Exhibit 99.1 to this report we are providing certain unaudited historical financial and operating information reflecting these changes.

The information provided pursuant to this Item 7.01 is “furnished” and shall not be deemed to be “filed” with the Securities and Exchange Commission or incorporated by reference in any filing under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filings.



Item 9.01. Financial Statements and Exhibits
(d) Exhibits.   
Exhibit
Number		    Description
Selected historical financial and operating information.
104 Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
    Verizon Communications Inc.
    (Registrant)
Date: March 19, 2025   /s/ Mary-Lee Stillwell
        Mary-Lee Stillwell
         Senior Vice President and Controller
EX-99.1 2 recast2024financialoperati.htm EX-99.1 Document
Verizon Communications Inc.
Exhibit 99.1

Selected Historical Financial and Operating Information



Consumer - Selected Financial Results
(dollars in millions)
3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 12 Mos. Ended
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24 12/31/24
Operating Revenues
Service $ 19,624  $ 19,851  $ 19,919  $ 20,064  $ 79,458 
Wireless equipment 4,490  4,143  4,478  6,487  19,598 
Other 943  933  963  1,009  3,848 
Total Operating Revenues $ 25,057  $ 24,927  $ 25,360  $ 27,560  $ 102,904 
Footnotes:
Certain intersegment transactions with corporate entities have not been eliminated.

Verizon Communications Inc.

Consumer - Selected Operating Statistics
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24
Connections (‘000):
Wireless retail postpaid phone 74,523  74,407  74,412  74,772 
3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 12 Mos. Ended
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24 12/31/24
Gross Additions (‘000):
Wireless retail postpaid phone 1,674  1,647  1,860  2,324  7,505 
Net Additions (‘000):
 Wireless retail postpaid phone (194) (109) 18  367  82 
Churn Rate:
Wireless retail postpaid phone 0.83  % 0.79  % 0.83  % 0.88  % 0.83  %
Revenue Statistics (in millions):
Wireless service revenue
 $ 16,760  $ 16,985  $ 17,036  $ 17,170  $ 67,951 
Wireless Account Statistics:
Wireless retail postpaid ARPA(1)
 $ 141.31  $ 144.15  $ 144.94  $ 145.61  $ 144.00 
Footnotes:
(1) Wireless retail postpaid ARPA - average service revenue per account from retail postpaid accounts.
Where applicable, the operating results reflect certain adjustments, including those related to the reclassification of connections associated with Verizon’s second number offering, migration activity among different types of devices and plans, customer profile changes, and adjustments in connection with mergers, acquisitions and divestitures. Where applicable, historical results have been recast to conform to the current period presentation.
Certain intersegment transactions with corporate entities have not been eliminated.

Verizon Communications Inc.

Business - Selected Operating Statistics
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24
Connections (‘000):
 Wireless retail postpaid phone 18,295  18,445  18,603  18,745 
3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 12 Mos. Ended
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24 12/31/24
Gross Additions (‘000):
Wireless retail postpaid phone 694  737  770  740  2,941 
Net Additions (‘000):
Wireless retail postpaid phone 80  135  149  137  501 
Churn Rate:
Wireless retail postpaid phone 1.13  % 1.09  % 1.12  % 1.08  % 1.10  %
Revenue Statistics (in millions):
  Wireless service revenue $ 3,467  $ 3,521  $ 3,562  $ 3,572  $ 14,122 
Footnotes:
Where applicable, the operating results reflect certain adjustments, including those related to the reclassification of connections associated with Verizon’s second number offering, migration activity among different types of devices and plans, customer profile changes, and adjustments in connection with mergers, acquisitions and divestitures. Where applicable, historical results have been recast to conform to the current period presentation.
Certain intersegment transactions with corporate entities have not been eliminated.


Verizon Communications Inc.

Supplemental Information - Total Wireless Operating and Financial Statistics

The following supplemental schedule contains certain financial and operating metrics which reflect an aggregation of our Consumer and Business segments’ wireless results.
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24
Connections (‘000):
Retail postpaid phone 92,818  92,852  93,015  93,517 
3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 3 Mos. Ended 12 Mos. Ended
Unaudited 3/31/24 6/30/24 9/30/24 12/31/24 12/31/24
Net Additions (‘000):
Retail postpaid phone (114) 26  167  504  583 
Account Statistics:
Retail postpaid ARPA(1)
 $ 164.27  $ 167.38  $ 168.44  $ 168.96  $ 167.26 
Churn Rate:
Retail postpaid phone 0.89  % 0.85  % 0.88  % 0.92  % 0.88  %
Revenue Statistics (in millions)(2):
Wireless service $ 20,227  $ 20,506  $ 20,598  $ 20,742  $ 82,073 
Wireless equipment 5,361  4,998  5,343  7,515  23,217 
Wireless other 871  867  907  953  3,598 
Total Wireless $ 26,459  $ 26,371  $ 26,848  $ 29,210  $ 108,888 
Footnotes:
(1) Wireless retail postpaid ARPA - average service revenue per account from retail postpaid accounts.
(2) Intersegment transactions between Consumer or Business segment with corporate entities have not been eliminated.
Where applicable, the operating results reflect certain adjustments, including those related to the reclassification of connections associated with Verizon’s second number offering, migration activity among different types of devices and plans, customer profile changes, and adjustments in connection with mergers, acquisitions and divestitures. Where applicable, historical results have been recast to conform to the current period presentation.