Just remember one thing Z3V users. If you don't apply this lollipop update correctly you will more than likely have a phone full of problems. Just look around the Samsung and LG sites on what can happen. Doing it correctly will give you a lot better results. It's a PITA but you will should do a full factory data reset prior to downloading and installing the update, and make sure you do not reinstall any app data from a backup. I did this to my S4 and it works so much better than on KK. Others have not done this and they have problems to no end.
Verizon is horribly slow on updates period. No matter what phone I had guess what? The last in line for that shiny new update. A very uneducated guess but I think there's a bunch of red tape when it comes to Verizon. Look at the lumia icon and the ridiculous time it took to get the denim update. No excuses VZW pig with lipstick!