Lucent Chmn, CEO Bought Total Of 1.35M Shares Aug 16
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08/26/2002
Dow Jones News Services
(Copyright © 2002 Dow Jones & Company, Inc.)
WASHINGTON (Dow Jones)--Lucent Technologies Inc.'s (LU) chief executive and its chairman bought a total of 1.35 million shares of the company's common stock Aug. 16, according to Form 4s released Monday by the Securities and Exchange Commission.
Chairman Henry B. Schacht purchased 1 million shares for $1.43 apiece. As of the date of the filing, he directly owned 1 million common shares.
Chief Executive and President Patricia F. Russo purchased 350,000 shares for $1.42 and $1.43 each. As of the filing date, Russo directly owned 363,004 common shares and indirectly owned a total of 350,000 shares through her 401(k) plan and through her husband.
Shares of Lucent Technologies, Murray Hill, N.J., recently traded at $1.61.
The Wall Street Journal reported Friday that Lucent may cut another 10% of its work force, citing a person familiar with the company's planning. Lucent employs about 50,000 people, down from a peak of about 155,000 in 2000.
-By Ben Siegel, Dow Jones Newswires; 202-628-7689
(END) DOW JONES NEWS 08-26-02
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