Oracle Ties Pay to Performance After Investor Lobbying
This article is for subscribers only.
Oracle Corp. changed its executive compensation plan, tying pay packages more closely to the company’s performance following shareholder lobbying and Larry Ellison’s decision to step down as chief executive officer.
Ellison’s performance-based stock award was cut by 187,500 shares, or $7.28 million based on Oracle’s closing price yesterday, and his stock-option award for fiscal 2015 was reduced by 750,000 shares, according to a filing with the U.S. Securities and Exchange Commission. Ellison’s total pay last year was $67.3 million, down from $79.6 million the prior year.