This excerpt taken from the TLAB 8-K filed May 1, 2006.
Bo Hedfors, Michael Lavin and Jan Suwinski re-elected to Tellabs board of directors
Naperville, Ill. The Tellabs Board of Directors authorized the removal of a $100 million cap from the share repurchase program it authorized in January under Rule 10b5-1 of the Securities and Exchange Act of 1934. Under this plan, the company uses cash generated by employee stock-option exercises (other than those of company officers and the Board of Directors) to repurchase stock. During the first quarter of 2006, Tellabs repurchased 2.1 million shares for $29.6 million under this plan.
under a $300 million share repurchase plan announced in 2005, Tellabs
At Tellabs annual meeting today, stockholders re-elected Bo Hedfors, Michael Lavin and Jan Suwinski to the Tellabs board of directors for three-year terms. Stockholders also ratified the appointment of Ernst & Young LLP as Tellabs independent auditors for 2006.
To view biographies of the Tellabs board of directors, please visit http://www.tellabs.com/investors/annual/2005/leadership.htm.
Tellabs advances telecommunications networks to meet the evolving needs of end-users. Broadband solutions from Tellabs enable service providers to deliver high-quality voice, video and data services over wireline and wireless networks around the world. Tellabs (NASDAQ: TLAB) is part of the NASDAQ-100 Index and the S&P 500. www.tellabs.com
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