Bloomberg Law
March 9, 2018, 8:47 PM UTC

Verizon Faces Investor Vote on Adding Cybersecurity Link to Pay

Andrea Vittorio

Verizon Communications Inc. investors will weigh in this year on a proposal to tie top executives’ pay to how well it protects networks and customer information from cyberattacks.

The proposal, from New York state’s nearly $200 billion pension fund and socially conscious investment firm Trillium Asset Management, is going to a shareholder vote after the Securities and Exchange Commission on March 7 deniedthe telecommunications company’s request to block it.

Verizon didn’t explain its board’s view when it argued that cybersecurity is part of its day-to-day business and shouldn’t be subject to a vote, SEC staff said. The staff recently ...

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