Oracle CEO's pay drops

Money
Oracle founder and CEO Larry Ellison's (L) pay package dropped 18 percent in fiscal 2013, to $78.4 million. Picture:

REDWOOD CITY - The value of Oracle founder and CEO Larry Ellison's pay package dropped 18 percent in fiscal 2013, to $78.4 million, after the company missed its internal financial targets and he declined his annual cash bonus.

That's according to a securities filing made on Friday and reviewed by The Associated Press.

Ellison is one of the highest-paid executives in the United States of America.

The biggest chunk of compensation came in the form of stock options, valued at $76.9 million when they were issued. Ellison, 69, also received about $1.5 million worth of benefits. His annual salary is $1.

He voluntarily declined a cash bonus that would have come to about $1.2 million.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

-AFP

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