Verizon is now rolling out an update to the Moto X (2014) that brings along the latest Android security patches. There doesn't look to be anything else included in the update, with Verizon simply listing the following:
The current software update gives you the most up to date Android security patch on your device.
Once updated, users should find themselves patched with the latest batch of vulnerability fixes from the folks at Google. However, given the update only just began rolling out, it may take some time before it lands for everyone. To check manually, you can head to Settings > About Phone > System Update.