Verizon Communications Inc. has announced an increase in the annual target long-term incentive for its Chairman and CEO, Hans Vestberg. The Board of Directors approved raising his 2025 long-term incentive opportunity from $18 million to $25 million, with 67% allocated to performance stock units (PSUs) and 33% to restricted stock units (RSUs). This decision was based on market competitiveness, Vestberg's tenure, and experience.

Additionally, Verizon disclosed changes in revenue classification and reporting metrics for 2025. Recurring device protection and insurance-related plan revenues will be reclassified from "Other revenue" to "Wireless service revenue." The company will also stop including the impact of its second number offering when calculating certain wireless retail postpaid phone metrics.