Form 8-K/A · Current Report · Filed 2025-02-26
Oracle Announces Part-Time Role for Retiring Executive
On February 26, 2025, Oracle Corporation announced that Edward Screven, Executive Vice President and Chief Corporate Architect, will retire from his executive position by the end of February 2025 but will remain employed on a part-time basis as a Technical Advisor starting March 1, 2025.
- Filer
- Oracle Corporation ORCL · NYSE
- Filed
- Accession
- 0001193125-25-036873
- CIK
- 0001341439
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Details
His salary will be reduced by 50% to $450,000 per annum, and 50% of his unvested restricted stock units will be canceled. He will also no longer participate in Oracle's Executive Bonus Plan but may be eligible for a discretionary bonus. This change was approved by the Compensation Committee of Oracle's Board of Directors on February 21, 2025.
Items reported
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Market reaction
Close before filing
$168.54
Next session
-2.2%
Since filing
-22.9%
Latest close
$129.87
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from ORCL reporting the same item, with the next session's move:
About Oracle Corporation
Oracle Corporation is a global leader in enterprise software, cloud services, and database technology. The company specializes in developing solutions that help organizations manage and optimize business processes and data storage. Known for its powerful Oracle Database, Oracle provides a comprehensive suite of software such as Oracle Cloud Infrastructure, Fusion ERP, HCM Cloud, and MySQL. These services cater to various industries, including financial services, healthcare, retail, and government sectors. Oracle's focus on cloud technology and integrated software solutions plays a crucial role in helping businesses transition to digital operations. Additionally, Oracle's robust portfolio supports mission-critical processes for Fortune 500 companies, making it a cornerstone in the tech industry. Founded in 1977 and headquartered in Austin, Texas, Oracle Corporation continues to drive innovation in database management and cloud computing, consolidating its market significance as a pivotal provider of IT solutions globally.
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