Menu
Oracle slashes Larry Ellison's stock options following shareholder discontent

Oracle slashes Larry Ellison's stock options following shareholder discontent

An Oracle spokeswoman won't say whether the cut is related to shareholders' gripes about executive pay

Oracle has granted CEO Larry Ellison 3 million stock options, a significant reduction from the 7 million options he received in previous years, according to a regulatory filing.

Other Oracle executives, such as co-presidents Mark Hurd and Safra Catz, were also awarded smaller stock option grants than in the past, other filings made Monday show. Each received 2.25 million stock options, compared to 5 million last year.

The changes, which were first reported by The Wall Street Journal, come after years of shareholder discontent over Oracle's executive compensation.

An Oracle spokeswoman declined to comment on whether the lower grants were in response to shareholder demand.

Oracle has defended its compensation practices by arguing that stock options aren't valuable unless the company's share price rises, an outcome that is good for both executives and every other Oracle shareholder.

Last year, Oracle secretary and general counsel Dorian Daley characterized Ellison as Oracle's "most critical strategic visionary," with his pay being more than reasonable given Ellison's track record.

Ellison owns about one-fourth of Oracle's outstanding stock, representing more than 1.1 billion shares, according to a regulatory filing.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags business issuespersonnelhardware systemssoftwareOracle

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments