The CEO and founder of Oracle Corp. and one of the richest businessman in the world, Larry Ellison recognize his pay bounced to almost $96.2 last year. The pay revealed in a corporate record was about 24 percent of the recent year’s overall of $77.6 million, and most of Ellison’s pay comes from stock options which worth more than $90.7 million when they were awarded last June, 2011.
The opportunity to purchase 7 million shares at $32.43 per share have worth only if the stock is selling higher with its price, while other senior executives experienced the same cuts. It was because of Oracle’s profit increased for the year came in beneath its targets, based on the annual filing it built. For the year that ended last May, Oracle’s net income increased 17 percent to $9.98 billion, while the revenue lifted to 4 percent to almost $37.12 billion.
The compensation committee of Oracle distinguishes that Ellison with the age of 68 has a compelling equity interest in oracle however they considers that he should be appropriate for a year compensation package due to his effectiveness and major role in the operations development and strategy. For the year that ended last May 31, Ellison’s salary was only $1 and it is unchanged from the last year.
Forbes estimated the net worth of Ellison and it is about $41 billion, which ranked him as the 6th wealthiest man all over the world and the 3rd richest in the U.S., following Bill Gates, the Microsoft Co-founder and Warren Buffett, investor and head of Berkshire Hathaway Inc.. In the last fiscal year, the Associated Press estimation cuts off the worth of the company’s board located on the executive’s overall compensation package.
In which it includes bonus, perks, the approximated value of stock options and awards granted, above-market returns on delayed compensation, salary and performance-related bonuses. It does not contain the changes in the present worth of pension benefits, they even not go with the totals that firm’s records in the summary compensation table of proxy remark arranged in the Securities and Exchange Commission. In the recent fiscal year, the statements to the SEC emulate accounting charges collecting from the executive’s compensation.
REFERENCES:
http://gadgets.ndtv.com/laptops/news/oracle-paid-ceo-larry-ellison-a-cool-96-million-last-year-271296
http://www.huffingtonpost.com/2012/09/22/larry-ellison-oracle-ceo-pay-raise_n_1905193.html
http://newsr.in/n/Science/74rfhptzs/Oracle-paid-CEO-Larry-Ellison-cool-96.htm
http://www.google.com.ph/url?sa=t&rct=j&q=oracle%20paid%20ceo%20larry%20ellison%20a%20cool%20%2496%20million%20last%20year&source=web&cd=6&cad=rja&ved=0CEcQFjAF&url=http%3A%2F%2Fwww.i4u.com%2F2012%2F09%2Flarry-ellison%2Fpaid-ellison-year-larry-ceo-oracle-last-million-cool-96&ei=wL9iUPmZF6v4igKqhoHADQ&usg=AFQjCNF4U-wi648WixBi-wVkD1JDtqaglQ
