Feeds

Oracle shareholders enhance Ellison's package

Room for more

Top 5 reasons to deploy VMware with Tegile

Larry Ellison has not only survived a plan that could have put Oracle shareholders in charge of his annual compensation, he's in line for a bigger payout.

Oracle's chief executive stands to receive a total bonus of $13.62m in fiscal 2009, a 25 per cent increase over last year's maximum rewards package of $10.89m.

The increased bonus packaged was ratified by Oracle's shareholders attending their annual general meeting (AGM) last Friday. The package was put forward by Oracle's compensation committee in August, with the committee specifying nine Oracle executives in addition to Ellison who'd also get paid under its plan.

The 2009 rewards are based on "certain performance criteria" determined by the company's compensation committed. These include improvements in Oracle's pre-tax profit on a non-GAAP basis and "revenue-related goals linked to a particular area of responsibility."

Ellison is already one of the tech sector's best-remunerated chief executives and America's third-richest individual, thanks to steadily growing pay and stock allocations.

His fiscal 2008 cash and stock package weighed in at $83m, 372 per cent above what Ellison's peers in other chief executive positions receive, according to consultant Proxy Governance Inc.

The 2009 award followed the defeat of a proposal by shareholder Marianists Province of the United States to give fellow shareholders a "say on pay." This would have let shareholders set the packages Ellison and other senior Oracle executives would have received, bypassing Oracle's compensation committee. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Bill Gates, drugs and the internet: Top 10 Larry Ellison quotes
'I certainly never expected to become rich ... this is surreal'
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.