Along with his new title as CTO, Oracle cofounder Larry Ellison’s tremendous pay package is also trending down.
In fiscal 2014, the former CEO earned $US67.3 million, mostly in stock options, according to forms filed with the SEC.
Specifics are: $US1 in salary, $US741,384 in “Non-Equity Incentive Plan Compensation,” which most people would call a bonus, nearly $US65 million in stock options, and over $US1.5 million in perks.
That’s quite a bit less from 2013, when he was paid $US78.4 million, mostly in stock options. And far lower than the year before, $US96.2 million.
When his 2013 pay was a revealed, activist investor group CtW Investments balked and lobbied the board to stop throwing so many stock options at him. Top proxy adviser firm Institutional Shareholder Services agreed with CtW and recommended that shareholders vote against Oracle pay packages.
Oracle’s board argued back that Oracle is an unbelievably profitable company and Ellison was its kingpin. However, Ellison did try and appease them. He turn down his $US1.2 million cash bonus for fiscal 2013.
Despite another pay cut, Ellison is not in danger of landing in the poor house. He’s Oracle’s biggest shareholder, with a 25% stake, owns vast holdings in real estate and other businesses, and is the world’s fifth-richest person, worth about $US49 billion, reports Forbes.
New co-CEOs Mark Hurd and Safra Catz also had a pay cut in 2014 to $US37.7 million apiece. They were paid $US44 million each in 2013, mostly in stock options.
The SEC forms included a bunch of fun details on perks for these top execs, too.