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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: February 29, 2024
(Date of earliest event reported)
 ______________________________________________________________________________
Verizon Communications Inc.
(Exact name of registrant as specified in its charter)
 _______________________________________________________________________________  
Delaware1-860623-2259884
(State or other jurisdiction
of incorporation)		(Commission File Number)(I.R.S. Employer Identification No.)
1095 Avenue of the Americas10036
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 ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, par value $0.10VZNew York Stock Exchange
Common Stock, par value $0.10VZThe Nasdaq Global Select Market
4.073% Notes due 2024VZ 24CNew York Stock Exchange
0.875% Notes due 2025VZ 25New York Stock Exchange
3.25% Notes due 2026VZ 26New York Stock Exchange
1.375% Notes due 2026VZ 26BNew York Stock Exchange
0.875% Notes due 2027VZ 27ENew York Stock Exchange
1.375% Notes due 2028VZ 28New York Stock Exchange
1.125% Notes due 2028VZ 28ANew York Stock Exchange
2.350% Fixed Rate Notes due 2028VZ 28CNew York Stock Exchange
1.875% Notes due 2029VZ 29BNew York Stock Exchange
0.375% Notes due 2029VZ 29DNew York Stock Exchange
1.250% Notes due 2030VZ 30New York Stock Exchange
1.875% Notes due 2030VZ 30ANew York Stock Exchange
4.250% Notes due 2030VZ 30DNew York Stock Exchange
2.625% Notes due 2031VZ 31New York Stock Exchange
2.500% Notes due 2031VZ 31ANew York Stock Exchange
3.000% Fixed Rate Notes due 2031VZ 31DNew York Stock Exchange
0.875% Notes due 2032VZ 32New York Stock Exchange
0.750% Notes due 2032VZ 32ANew York Stock Exchange
1.300% Notes due 2033VZ 33BNew York Stock Exchange
4.75% Notes due 2034VZ 34New York Stock Exchange
4.750% Notes due 2034VZ 34CNew York Stock Exchange
3.125% Notes due 2035VZ 35New York Stock Exchange
1.125% Notes due 2035VZ 35ANew York Stock Exchange
3.375% Notes due 2036VZ 36ANew York Stock Exchange
2.875% Notes due 2038VZ 38BNew York Stock Exchange
1.875% Notes due 2038VZ 38CNew York Stock Exchange
1.500% Notes due 2039VZ 39CNew York Stock Exchange
3.50% Fixed Rate Notes due 2039VZ 39DNew York Stock Exchange
1.850% Notes due 2040VZ 40New York Stock Exchange
3.850% Fixed Rate Notes due 2041VZ 41CNew 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 7.01. Regulation FD Disclosure
On February 29, 2024, Verizon Communications Inc. (“Verizon”) entered into two separate commitment agreements, one by and between Verizon, State Street Global Advisors Trust Company (“State Street”), as independent fiduciary of the Verizon Management Pension Plan and Verizon Pension Plan for Associates (the “Pension Plans”), and The Prudential Insurance Company of America (“Prudential”), and one by and between Verizon, State Street and RGA Reinsurance Company (“RGA”), under which the Pension Plans purchased a nonparticipating single premium group annuity contract from Prudential and a nonparticipating single premium group annuity contract from RGA to settle approximately $5.9 billion of benefit liabilities of the Pension Plans.

The purchase of the group annuity contracts closed on March 6, 2024. The group annuity contracts primarily cover a population that includes 56,000 retirees who commenced benefit payments from the Pension Plans prior to January 1, 2023 (“Transferred Participants”). Prudential and RGA each irrevocably guarantee and assume the sole obligation to make future payments to the Transferred Participants as provided under their respective group annuity contracts, with direct payments beginning July 1, 2024. Prudential and RGA will each assume 50% of the benefit obligation related to Transferred Participants, except in certain jurisdictions where Prudential will assume 100% of the benefit obligation related to Transferred Participants residing in such jurisdictions. The aggregate amount of each Transferred Participant’s payment under the group annuity contracts will be equal to the amount of each individual’s payment under the Pension Plans.

Participants in the Pension Plans who are not covered by the group annuity contracts, including management and associate retirees who commenced benefit payments on or after January 1, 2023 and active and term vested managers and associates, will not be affected by this transaction.

Transferred Participants will continue to receive their benefits from the Pension Plans until July 1, 2024, at which time Prudential will assume responsibility for administrative services, including distribution of payments to the Transferred Participants, on behalf of itself and, where applicable, RGA.

The purchase of the group annuity contracts was funded directly by assets of the Pension Plans. Verizon made additional contributions to the Pension Plans prior to the closing date of the transaction in the aggregate amount of approximately $365 million. With these contributions, the funded ratio of each of the Pension Plans does not change as a result of this transaction.

As a result of the transaction, Verizon expects to recognize a one-time non-cash pension settlement credit in the first quarter of 2024. The actual amount of the credit will depend on finalization of the actuarial and other assumptions.

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 filing.

Forward-Looking Statements
In this report we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words "anticipates," "assumes," "believes," "estimates," "expects," "forecasts," "hopes," "intends," "plans," "targets" or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.


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, thereunto duly authorized.
  Verizon Communications Inc.
  (Registrant)
Date:March 6, 2024 /s/ Mary-Lee Stillwell
       Mary-Lee Stillwell
       Senior Vice President and Controller
v3.24.0.1
Cover
Feb. 29, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Feb. 29, 2024
Entity Registrant Name Verizon Communications Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 1-8606
Entity Tax Identification Number 23-2259884
Entity Address, Address Line One 1095 Avenue of the Americas
Entity Address, City or Town New York,
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10036
City Area Code 212
Local Phone Number 395-1000
Entity Information, Former Legal or Registered Name Not Applicable
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000732712
Amendment Flag false
4.073% Notes due 2024  
Entity Information [Line Items]  
Title of 12(b) Security 4.073% Notes due 2024
Trading Symbol VZ 24C
Security Exchange Name NYSE
0.875% Notes due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 0.875% Notes due 2025
Trading Symbol VZ 25
Security Exchange Name NYSE
3.250% Notes due 2026  
Entity Information [Line Items]  
Title of 12(b) Security 3.25% Notes due 2026
Trading Symbol VZ 26
Security Exchange Name NYSE
1.375% Notes due 2026  
Entity Information [Line Items]  
Title of 12(b) Security 1.375% Notes due 2026
Trading Symbol VZ 26B
Security Exchange Name NYSE
0.875% Notes due 2027  
Entity Information [Line Items]  
Title of 12(b) Security 0.875% Notes due 2027
Trading Symbol VZ 27E
Security Exchange Name NYSE
1.375% Notes due 2028  
Entity Information [Line Items]  
Title of 12(b) Security 1.375% Notes due 2028
Trading Symbol VZ 28
Security Exchange Name NYSE
1.875% Notes due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 1.875% Notes due 2029
Trading Symbol VZ 29B
Security Exchange Name NYSE
1.250% Notes due 2030  
Entity Information [Line Items]  
Title of 12(b) Security 1.250% Notes due 2030
Trading Symbol VZ 30
Security Exchange Name NYSE
1.875% Notes due 2030  
Entity Information [Line Items]  
Title of 12(b) Security 1.875% Notes due 2030
Trading Symbol VZ 30A
Security Exchange Name NYSE
2.625% Notes due 2031  
Entity Information [Line Items]  
Title of 12(b) Security 2.625% Notes due 2031
Trading Symbol VZ 31
Security Exchange Name NYSE
2.500% Notes due 2031  
Entity Information [Line Items]  
Title of 12(b) Security 2.500% Notes due 2031
Trading Symbol VZ 31A
Security Exchange Name NYSE
0.875% Notes due 2032  
Entity Information [Line Items]  
Title of 12(b) Security 0.875% Notes due 2032
Trading Symbol VZ 32
Security Exchange Name NYSE
1.300% Notes due 2033  
Entity Information [Line Items]  
Title of 12(b) Security 1.300% Notes due 2033
Trading Symbol VZ 33B
Security Exchange Name NYSE
4.750% Notes due 2034  
Entity Information [Line Items]  
Title of 12(b) Security 4.750% Notes due 2034
Trading Symbol VZ 34C
Security Exchange Name NYSE
3.125% Notes due 2035  
Entity Information [Line Items]  
Title of 12(b) Security 3.125% Notes due 2035
Trading Symbol VZ 35
Security Exchange Name NYSE
3.375% Notes due 2036  
Entity Information [Line Items]  
Title of 12(b) Security 3.375% Notes due 2036
Trading Symbol VZ 36A
Security Exchange Name NYSE
2.875% Notes due 2038  
Entity Information [Line Items]  
Title of 12(b) Security 2.875% Notes due 2038
Trading Symbol VZ 38B
Security Exchange Name NYSE
1.500% Notes due 2039  
Entity Information [Line Items]  
Title of 12(b) Security 1.500% Notes due 2039
Trading Symbol VZ 39C
Security Exchange Name NYSE
3.500% Fixed Rate Notes Due 2039 [Member]  
Entity Information [Line Items]  
Title of 12(b) Security 3.50% Fixed Rate Notes due 2039
Trading Symbol VZ 39D
Security Exchange Name NYSE
1.850% Notes Due 2040  
Entity Information [Line Items]  
Title of 12(b) Security 1.850% Notes due 2040
Trading Symbol VZ 40
Security Exchange Name NYSE
1.125% Notes Due 2028  
Entity Information [Line Items]  
Title of 12(b) Security 1.125% Notes due 2028
Trading Symbol VZ 28A
Security Exchange Name NYSE
1.875% Notes Due 2038  
Entity Information [Line Items]  
Title of 12(b) Security 1.875% Notes due 2038
Trading Symbol VZ 38C
Security Exchange Name NYSE
0.375% Notes Due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 0.375% Notes due 2029
Trading Symbol VZ 29D
Security Exchange Name NYSE
0.750% Notes Due 2032  
Entity Information [Line Items]  
Title of 12(b) Security 0.750% Notes due 2032
Trading Symbol VZ 32A
Security Exchange Name NYSE
1.125% Notes Due 2035  
Entity Information [Line Items]  
Title of 12(b) Security 1.125% Notes due 2035
Trading Symbol VZ 35A
Security Exchange Name NYSE
2.350% Fixed Rate Notes Due 2028  
Entity Information [Line Items]  
Title of 12(b) Security 2.350% Fixed Rate Notes due 2028
Trading Symbol VZ 28C
Security Exchange Name NYSE
3.000% Fixed Rate Notes Due 2031  
Entity Information [Line Items]  
Title of 12(b) Security 3.000% Fixed Rate Notes due 2031
Trading Symbol VZ 31D
Security Exchange Name NYSE
3.850% Fixed Rate Notes Due 2041  
Entity Information [Line Items]  
Title of 12(b) Security 3.850% Fixed Rate Notes due 2041
Trading Symbol VZ 41C
Security Exchange Name NYSE
Notes Due 2030, 4.250%  
Entity Information [Line Items]  
Title of 12(b) Security 4.250% Notes due 2030
Trading Symbol VZ 30D
Security Exchange Name NYSE
Notes Due 2034, 4.75%  
Entity Information [Line Items]  
Title of 12(b) Security 4.75% Notes due 2034
Trading Symbol VZ 34
Security Exchange Name NYSE
New York Stock Exchange | Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, par value $0.10
Trading Symbol VZ
Security Exchange Name NYSE
The NASDAQ Global Select Market | Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, par value $0.10
Trading Symbol VZ
Security Exchange Name NASDAQ
Verizon Communications (NYSE:VZ)
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