Your 2020 Stock Together Award is here and viewable at Fidelity
Stock Together program is a broad-based equity award program that creates an opportunity for all of us to share in the success of Verizon and the value we help to create through a discretionary award of Verizon Restricted Stock Units (RSUs). Below, you will find information regarding your Stock Together grant, including what actions to take next.
Grant Date: March 2, 2020
Grant Date Price: $57.32
RSUs, payable in cash, that vest 1/3rd on March 2, 2021, 1/3rd on March 2, 2022 and 1/3rd on March 2, 2023 (subject to continued employment on each of the vesting dates)
You can access your award now at Fidelity by going to www.NetBenefits.com/Verizon. If you have not registered before, you can by clicking on “Register Now” under “New User?”. Once logged in, you may need to Activate your account first. If you need assistance with your account activation, please click here for a Fidelity guide. Once you have activated your account, you will be able to see your Award as well as the Grant Notice that comes with your award. You will be able to print copies of your Grant Notice which contain important information regarding plan terms.
In light of the Covid-19 situation, we have had to make some adjustments to the DCRF program for the month of March. We are extending the due date for March DCRF monthly forms to May 8th, the same date as April’s expenses monthly form is due. We will be processing both March and April forms at the same time to be paid out on the usual date of May 29th.
If you are utilizing Verizon’s Crisis Care administered through Bright Horizons for a relative to care for your child and you are receiving reimbursement through that program, you are not eligible for DCRF reimbursement. Also as a reminder, you must be working to receive DCRF reimbursement.
The IBEW & CWA have negotiated a new Bonus Agreement with Verizon for employees who are not eligible to work from home during the Covid-19 Pandemic. Under the agreement, members who are unable to work from home will receive a weekly bonus of $300 per week. This amount may be renegotiated, but will not be less than $300 per week.
Also, Verizon will pay bonuses to these same employees who are on leave of absence because of a medically diagnosed case of COVID 19, or directed to self-quarantine either by Verizon, or a doctor or government official, because of a suspected case of COVID 19.
We are pleased Verizon shares the concern we have for our members and is willing to offer these bonuses to union members who perform the dangerous work of keeping the network intact, and keeping our neighbors, state and local government, and businesses connected during this crisis.
The generosity of the membership of IBEW 2222 is second to none. One of our adopted charities, Bread of Life, needs our financial support during these unprecedented times.
The mission of Bread of life is to strive to feed the hungry, the homeless, the needy and the isolated; to offer spiritual nurture, support and hospitality; to promote greater peace and justice by addressing broader issues of hunger, poverty, and need; and to conduct our work in a spirit of respect and nonviolence.
Please, take a moment to donate whatever you can to help Bread of Life care for the neediest among us. You can make a donation by CLICKING HERE. Thank You!
Local 2222 in partnership with Pisa Pizza of Malden, providing box lunches for Bread of Life.
Thank You, and please donate.
The IBEW & CWA have been working hard with Verizon to reach agreements to protect our members, while at the same time maintaining our network. We have made the following agreements:
Work from Home:
Members who work an inside desk job, who have the required broadband service at their residence, who requests to work at home, have been allowed to do so. At this time, more than 90% of eligible employees have chosen to work from home. If you have any issues, please call the Union office.
Leave of Absence:
Members may be eligible for a LOA related to Covid-19 for up to 26 weeks. There are 4 scenarios for this leave:
How to Apply for a Covid-19 LOA
To apply for a Leave of Absence from a company computer, tablet or phone,
access the Covid-19 Resource Page on the VZ E-Web.
If you are unable to access the VZ E-Web use one the links below:
Verizon has informed the Union that the bonus & award payouts will be made to eligible employees on the following dates:
CPS – The Corporate Profit Sharing Award for 2019 is $829, and will be paid on March 6th. The award will be pro-rated for part-time employees and those employees who worked at least 3 months but less than 12 months in 2019.
Attendance – The Attendance Bonus for 2019 will be paid March 6th. Eligibility is covered in the Absence From Duty article in the contract.
RSU Special Award – The Restricted Stock Unit Special Award is $1,621.52 and will be paid on March 20th.