You are the only one having issues for which this procedure has not resolved. Sorry that it didn't work for you. Maybe Verizon will give you a new G4 to compensate for your harrowing upgrade experience. 
I know that a lot if people have posted on here but I'm frustrated, I had amazing battery life, no lag, no frustration. I loved this phone. Now lollipop has made me hate it. It drains my battery, it lags, even trying to backspace when fixing a typo causes the thing to freak out, it shuts off randomly and restarts, it gets hot but thankfully hasn't given me any overheating messages. I've tried to factory reset it but apparently I can't go back and I don't think that's right. I should be able to choose to downgrade my OS. Is there any possible way without doing some ROM crap to get it back to the original OS it came pre-installed with?
When you did your factory reset did you disable app data back up and app restore first?
Here's the fix.
1. Stay plugged into charger for the entire process
2. Charge to 100% and back up music, photos, files etc...contacts should be saved to Google Account and use Google Drive or Google Photos to back up with as well and apps are saved in a list in your My Apps screen in the Play Store app and online using the desktop page.
3. DISABLE Google backup and restore of apps and app data in your Backup and Reset tab in your phone's main settings screen.
4. Factory Reset the phone
5. Unplug from charger at 100% recharged
6. Set up your phone however you like to include apps from your My Apps screen in either the Play Store App or from the PC webpage version
7. Leave phone on until it powers off
8. Leave off and recharge to 100%
This is my usual process and I have had no issues.
The reasons for disabling app data is due to the fact that DAVLIK is now ART and the Android Optimization process might not go as planned if you just slap the new OS over the old OS. Also, when you go back to the Play Store to download apps, they will be the correct version this time for this OS.
I tried that and it immediately started upgrading the phone. And it's still this Lollipop OS.
You can't get rid of the lollipop, but it may help your phone function better.
It will remain Lollipop, but it will work correctly. If it began updating the phone you did not disable backup and restore. What was it updating? OS or apps?
Just said updating device. I unclicked the backup thing for Google. I'll see how it does now.
After a reset, the initial after-boot screen will say "Optimizing Apps" but thats normal.
It actually says upgrading apps but it's still doing the same crap so I think I'm just stick with it for another year until I can get a new phone or another update comes and maybe fixes it
Don't bother wasting your time with this procedure. My phone ran GREAT after I went through these steps (almost as good as new). It lasted for about a week. Now it is working EXACTLY the way it did before I did the factory reset. YMMV but I warned you.
I'm referring to the procedure by Snn5 in post #2 above.
You are the only one having issues for which this procedure has not resolved. Sorry that it didn't work for you. Maybe Verizon will give you a new G4 to compensate for your harrowing upgrade experience.
Not entirely true. I tried your method(s) on 4 different G3's (2 being replacements) and had no success. Unless you are meaning this is the first unsuccessful G2 reporting of it not working. Nonetheless, I do thank you for your thorough steps and appreciate you sharing them.
Start a new topic or ask questions in the open forum.