Frontier Communications Parent (FYBR) Proxy Filing summary

Executive summary

• Announced a definitive agreement for acquisition by Verizon in an all-cash transaction valued at $20 billion, marking a significant milestone after a four-year turnaround from bankruptcy to becoming the largest pure-play fiber provider in the U.S.

• The transaction is expected to close within 18 months, subject to customary legal, regulatory, and shareholder approvals, with both companies operating independently until closing.

• Verizon has committed to honoring existing collective bargaining agreements and maintaining wage and benefit packages for at least one year post-closing.

• Communications emphasize continued focus on customer service and operational excellence during the transition period.

Voting matters and shareholder proposals

• Shareholder approval is required for the proposed acquisition, and relevant proxy materials will be filed with the SEC.

• Investors and stockholders are urged to review all proxy materials for important information about the transaction.

Board of directors and corporate governance

• The board and executive committee conducted an extensive strategic review before approving the transaction.

• Information about directors, executive officers, and their security ownership is available in the 2024 Proxy Statement and recent SEC filings.