Oracle Corp 8-K/A, filed Feb 26, 2025
Oracle Corp (ORCL)
About this 8-K/A
Oracle Corp filed this 8-K/A on February 26, 2025, reporting on events of January 8, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
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SECURITIES AND EXCHANGE COMMISSION
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(Amendment No. 1)
CURRENT REPORT
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Explanatory Note
Section 5—Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective as of March 1, 2025 (the “Effective Date”), Mr. Screven will remain employed by Oracle on a part-time basis as a Technical Advisor reporting to Safra Catz, Oracle’s Chief Executive Officer. Mr. Screven will no longer be an executive officer of Oracle as of the Effective Date. On February 21, 2025, the Compensation Committee of Oracle’s Board of Directors approved the following changes to Mr. Screven’s compensation as of the Effective Date: (i) a 50% reduction in salary to $450,000 per annum, and (ii) cancellation of 50% of Mr. Screven’s outstanding unvested restricted stock units granted on August 3, 2021, September 20, 2022, September 15, 2023 and September 19, 2024. The Compensation Committee also determined that Mr. Screven would no longer participate in Oracle’s Executive Bonus Plan for the current fiscal year but would be eligible to receive a discretionary bonus if a bonus pool is funded at the end of Oracle’s fiscal year.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ORACLE CORPORATION | ||||||
| Dated: February 26, 2025 | By: | /s/ Kimberly Woolley | ||||
| Name: Kimberly Woolley | ||||||
| Title: Vice President, Assistant General Counsel and Assistant Secretary | ||||||