Oracle’s highest-paid executive in fiscal 2023 was Chief Corporate Architect Edward Screven, with reported total compensation of $20,208,434. The company’s 2023 proxy statement ranks five executives by reported total compensation for the fiscal year ended May 31, 2023—not the calendar year. The figures below come from Oracle’s 2023 proxy statement.
Oracle’s most highly compensated executives in 2023
Oracle’s Summary Compensation Table reports the following totals for fiscal 2023. The ranking is based on the “Total” column in that filing.
| Rank | Executive | Fiscal 2023 role | Reported total compensation |
|---|---|---|---|
| 1 | Edward Screven | EVP, Chief Corporate Architect | $20,208,434 |
| 2 | Stuart Levey | EVP, Chief Legal Officer | $12,757,189 |
| 3 | Jeffrey O. Henley | Vice Chairman | $9,683,492 |
| 4 | Lawrence J. Ellison | Chairman and Chief Technology Officer | $7,301,933 |
| 5 | Safra A. Catz | Chief Executive Officer and principal financial officer | $5,250,680 |
Oracle included Ellison voluntarily; the company said he was not a named executive officer under the applicable SEC rules for fiscal 2023. His inclusion makes the comparison more informative, but he should not be mistaken for one of the executives Oracle was required to list as a named executive officer.
What made up each executive’s reported compensation?
The total combines distinct categories from Oracle’s filing. “Non-equity incentive plan compensation” is kept separate from the table’s “Bonus” column; a dash means no amount was reported in that column.
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| Executive | Salary | Bonus | Stock awards | Non-equity incentive plan compensation | All other compensation | Total |
|---|---|---|---|---|---|---|
| Edward Screven | $900,000 | — | $17,217,777 | $2,082,607 | $8,050 | $20,208,434 |
| Stuart Levey | $557,765 | $650,000 | $11,537,388 | — | $12,036 | $12,757,189 |
| Jeffrey O. Henley | $650,000 | — | $8,608,921 | $416,521 | $8,050 | $9,683,492 |
| Lawrence J. Ellison | $1 | — | — | $4,165,213 | $3,136,719 | $7,301,933 |
| Safra A. Catz | $950,000 | — | — | $4,165,213 | $135,467 | $5,250,680 |
Why reported total compensation is not the same as cash received
Stock awards account for much of the reported totals for Screven, Levey, and Henley. Oracle valued those awards at grant date under FASB ASC 718. The proxy cautions that the amounts “do not reflect whether the NEO has actually realized or will realize an economic benefit from these awards.” In other words, the stock-award value in the table is an accounting figure at grant, not proof that an executive received that amount in cash or ultimately realized the same value.
The different pay mixes also matter when comparing totals. Screven’s total is dominated by stock awards, while Ellison and Catz had no stock awards reported in these rows and each had a substantial non-equity incentive payout. The rank orders reported compensation, not take-home pay or realized proceeds.
How Oracle’s fiscal 2023 bonuses were determined
For executives Oracle considered directly responsible for company financial performance—Catz, Ellison, Henley, and Screven—the Executive Bonus Plan used year-over-year growth in Oracle’s non-GAAP operating income as the relevant metric. Oracle said each of their fiscal 2023 payouts was 83% of target:
- Lawrence J. Ellison: $4,165,213
- Safra A. Catz: $4,165,213
- Edward Screven: $2,082,607
- Jeffrey O. Henley: $416,521
These amounts appear in the non-equity incentive plan compensation column, not the separate bonus column. Levey, as chief legal officer, was not considered directly responsible for Oracle’s financial performance and was handled under the discretionary corporate bonus plan. His $650,000 appears in the bonus column instead.
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For Oracle’s fiscal year ended May 31, 2023, reported total compensation ranged from $5,250,680 for Catz to $20,208,434 for Screven among the five executives shown. Those are proxy-statement totals that include different forms of compensation; they should not be read as amounts paid entirely in cash or as the realized value of stock awards.
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