By The Associated Press
Thursday, February 16, 2006
Shareholders of Lucent Technologies Inc. on Wednesday
approved proposals urging the board of the
telecommunications-equipment maker to link executive pay
more closely to company performance.
The shareholders dismissed a suggestion that senior managers
get no bonuses until retiree benefits are restored,
according to preliminary results of voting released from the
company's annual meeting, which took place in Wilmington,
The measures were proposed by shareholders and opposed by
Neither of the proposals that passed are binding.
One, approved with 54 percent of the votes, requests that
the board adopt a policy in which at least 75 percent of
stock options granted senior executives be based on
"performance criteria adopted by the board disclosed to
The other proposal, which passed with 53 percent of the
votes, encouraged the board to exclude the company's pension
credit when determining performance-based compensation for
its executives. The Murray Hill, N.J.-based company has
said it already does that.
Lucent has about 500 workers in Colorado.