With the economy in uncharted waters as a result of a global pandemic, and businesses and homes under the spectre of another virus-related lockdown, spare a thought for those less fortunate in our society. Yes, Oracle executives.
This year the poor little things will somehow have to get by without equity awards and marginal to non-existent pay rises.
Worst hit was CEO Safra Catz, who will see no increase in her salary, no bonus, no new equity grant and no performance-based equity vesting. Somehow the American billionaire banker will just have to make do with her meagre $950,000 salary, plus a trifling $14,055 in other compensation, according to a Securities Exchange Commission filing from the globally dominant database and application company.
Oracle CTO and founder Lawrence "Larry" Ellison has learned over the years to manage on his $1 annual salary – a figure which this year was topped up by $1,716,114 in "other compensation" and may be offset by the fact he got $103m in option awards and $3.6m in a non-equity incentive plan in 2018.
By way of explanation, the Oracle Compensation Committee said: "Mr Ellison, as Oracle's Founder who has guided the company for over 40 years, is invaluable." So invaluable, it seems, that they manage to put a value on his contribution every year.
Incidentally, "other compensation" for Ellison is largely made up of "security-related costs and expenses of $1.7m", although quite why a man of his inestimable charm and popularity should need security is anyone's guess.
Former co-CEO Mark Hurd, who died in October last year, got a $356,653 salary and $370,791 in other compensation.
As much as Oracle may attract criticism, lack of bonuses and additional stock options were not down to performance as the company's financials have been relatively good given the economic quagmire. The absence of equity awards is due to a five-year plan, which ends in 2022 at the earliest. ®