Stockholders for Less Sharing

//February 17, 2006

Biz BriefsShareholders of Lucent Technologies spoke at last weekÂs annual meeting, but itÂs not clear that their voices will be heard. Fifty-four percent of them voted for a resolution that would likely cut CEO Pat RussoÂs pay. The proposal would tie most stock-based executive compensation to the Murray Hill telecomÂs performance, and seemed to be aimed at Russo, whose 2005 compensation included about $5 million in restricted shares and stock options. Over the last year, LucentÂs stock price dropped by nearly 30%, from $3.76 a share to $2.66. But company spokeswoman Mary Lou Ambrus notes that shareholder resolutions arenÂt binding on the board of directors, which has not yet taken up the proposal. Last week Lucent shares were trading at around $2.85 apiece.