Oracle CEO Ellison's pay drops 18 pct to $78.4M

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Associated Press

Posted on September 20, 2013 at 3:00 PM

Updated Friday, Sep 20 at 9:01 PM

REDWOOD CITY, Calif. (AP) — 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 Friday and reviewed by The Associated Press.

Ellison is one of the highest-paid executives in the country.

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.

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