Lucent CEO Russo Gets $3.55 Million '05 Bonus Vs $2.95 Million For '04

WASHINGTON -(Dow Jones)- Lucent Technologies Chief Executive and Chairwoman Patricia F. Russo received a $3.55 million bonus for 2005, the company said Thursday in its annual proxy statement filed with the Securities and Exchange Commission.

Russo received part of the bonus, $1.95 million, as part of her annual incentive awards, and the remainder, $1.6 million, as part of three-year performance awards based on the company's 2003, 2004 and 2005 fiscal year results, according to the filing.

Russo earned a bonus of $2.95 million for 2004, solely from her annual incentive award.

Russo's base salary in 2005 was $1.2 million, remaining the same since she was appointed to the Murray Hill, N.J., communication technology company's top leadership post in 2002.

Lucent also granted Russo 2.25 million options with an exercise price of $3.96 per share during 2005, according to the filing. The company calculated the total value of those options at $5.3 million.

Russo beneficially owned 10.2 million shares of Lucent common stock at Oct. 1, according to the filing.

Shares of Lucent traded recently at $2.76 each, down 3 cents.

-By Ed Welsch, Dow Jones Newswires; 202-862-1356; edward.welsch@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 23rd December 2005