Brass at AT&T get new carrot, but with string

Article Abstract:

AT&T is implementing a new executive pay program that makes stock-option grants in addition to regular compensation packages. The new program could offer large amounts of additional revenue for executives when AT&T performs well. The program's stock-options can only be exercised if the company's share price improves by specific amounts. One quarter of the options can be exercised on the day they are granted at the market price, while the rest of the options can be exercised only if the price has risen 20 percent to 50 percent. The 'premium-priced' options are not yet popular, but they ensure that shareholders benefit before executives by linking executive pay to company performance. Chairman and CEO Robert E. Allen received a two percent increase in salary and bonus in 1991 to $2.1 million and he received 312,526 stock options.

Computer industry, Compensation and benefits, Employee benefits, Profit sharing, Executive, Stock, Allen, Robert E., Profit-sharing

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AT&T unionists seek greater role in management

Article Abstract:

AT & T Co announced that the salaries of its top executives increased only slightly in 1991 and its largest union is asking for greater influence in the company's management decisions according to the company's 1991 proxy statement. The Communications Workers of America (CWA) would like company directors and union members to meet in committees to jointly oversee future plant closings, employee relocations or work force reductions. During a shareholder proposal, the CWA also requested that AT & T add a union member to the AT & T board. AT & T recommended that shareholders vote against the proposals because the company is already addressing many of the sensitive issues involved with downsizing, and electing a union director would not benefit all the shareholders.

Telephone and telegraph apparatus, Telecommunications services industry, Telecommunications industry, Labor unions, Labor union recognition, Communications Workers of America, Stockholder, Employee Relations, Unions

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