Verizon will be updating the LG G3 to Android 5.0 Lollipop through an OTA update. The update docs have been posted on Verizon’s website, which means the OTA (version VS98523B) should start any time now.
The software rolling out will be version VS98523B, and should bring a number of considerable improvements, changes and fixes. A new, flat UI is present throughout LG’s system apps, and there’s also support for improved notifications and lock screen notifications, app pinning, searchable settings and improvements to LG Health.
The update should arrive over-the-air automatically, but the most impatient could go into settings and manually double-check.