As reported by Android Geeks, the Verizon variant of the Samsung Galaxy S4 will finally see its update to Android 4.4 KitKat. Based on the leaked image of an internal Verizon document, the update (OTA) will be released on May 2nd.
Now, I say "much maligned" because while your device will be updated to the latest and greatest, there may been some issues with it as it relates to the GS4. KitKat did some funny things to our devices, so if you notice that you're missing some apps, try using a new launcher, like Nova, and give your device a reboot.
Once you've received the update, don't forget to re-enable SD card support if you're rooted. Others have also reported a severe decrease in battery life, though many factors can play into this. Then again, maybe the reason Verizon took so much longer to drop the update is because they pushed fixes to these issues.
Looks like we'll know for sure on May 2nd. You can initiate an update check by going to Settings -> More -> About device -> Software update -> Check for updates. Once you get your update, let us know how it goes in the comments below.