You haven't told us anything about the toss or the launch,
so we have to assume that you're talking about 1 second
after the top of its arc.
At the top of its arc, the object stops rising and starts falling.
One second after that moment, it has fallen 4.9 meters from
the top of its arc, and is falling at a speed of 9.8 m/s.
It's vertical velocity is 9.8 meters per second straight down.