Here's the Info..
Verizon Pushing Android 4.4.4 Update to Samsung Galaxy S5 | Droid Life
just read that there will be a software update to 5.o, lollypop. I have had two Motorola droid maxx phones ruined by first a jellybean update then another phone with ice cream update. Both Verizon and Motorola left me and many other customers unsupported as they did not know how to fix the many issues that came about such as loss of Wifi, Bluetooth and overheating/ battery drain. I do not want my s5 updated. it is working well and I am happy. Verizon , please give the people the choice to update or not. I do not want anymore tampering with m,y phone especially with an update that has not been widely used. I will consider it after the bugs, if reported are fixed...
It's not up to Verizon once the update is complete. How Samsung has the warranty it is required for people to have their devices updated. This is why Samsung blocked downgrading on all their devices.