While Buffett abstained from voting against the pay proposal at Coca-Cola's shareholder meeting last week, he began criticizing the plan after it passed. Buffett said at the time that his loyalty to the company kept him from voting against the measure. The Wall Street Journal reported yesterday that pressure from Buffett would probably prod Coca-Cola to revise the pay plan before it goes into effect next year.

"No changes are being made to the plan at this time," Petro Kacur, a spokesman for Atlanta-based Coca-Cola, said in an e-mailed statement. "The plan already offers maximum flexibility, including the ability to extend the life of the equity plan, to ensure that it continues to meet the needs of the business and remains in line with shareowner interests."

David Winters, a shareholder in both the soft-drink maker and Buffett's Berkshire Hathaway Inc., had called on Buffett to oppose the pay plan, saying it violates the billionaire's principles on stock dilution. The measure passed with 83 percent of the votes cast.