Many Galaxy S3 users have been experiencing Connectivity issues, more specifically with LTE connections. The VRBMF1 update is expected to attempt to tackle the issue, though nothing is for certain as we do not have evidence from a changelog yet.
The update should be live for Verizon users, and the update can be performed by going to settings, then about, then Software Update and allowing your phone to continue the process.
DroidShake 