ORACLE CORP, DEF 14A filed on 9/26/2025
Proxy Statement (definitive)
v3.25.2
Cover
12 Months Ended
May 31, 2025
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Oracle Corporation
Entity Central Index Key 0001341439
v3.25.2
Pay vs Performance Disclosure - USD ($)
12 Months Ended
May 31, 2025
May 31, 2024
May 31, 2023
May 31, 2022
May 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
 
The following tables and related disclosures have been prepared in accordance with the SEC’s pay versus performance rules in Item 402(v) of Regulation
S-K
under the Exchange Act and do not necessarily reflect the economic benefit actually realized by our NEOs or the method by which the Compensation Committee makes compensation determinations. For a discussion of our executive compensation program and the Compensation Committee’s decision-making process in determining and approving our NEOs’ compensation, see “Executive Compensation—Compensation Discussion and Analysis” beginning on page 38.
Pay Versus Performance Table
 
 
Year
 
SCT Total for
PEO
($) (1)
   
Compensation
Actually Paid
(CAP) to PEO
($) (2)
   
Average SCT
Total for Non-
PEO NEOs
($) (1)
   
Average CAP
to
Non-PEO

NEOs
($) (3)
   
Value of Initial Fixed $100
Investment Based On:
 
Net
Income
($)
(millions)
 
Non-GAAP

Operating
Income
Growth
($) (6)
(millions)
 
Total
Shareholder
Return (TSR)
($) (4)
 
Peer Group
TSR
($) (5)
2025
 
 
1,113,417
 
 
 
461,805,673
 
 
 
11,329,031
 
 
 
106,537,403
 
 
231.50
 
172.38
 
12,443
 
1,978
2024
 
 
6,464,234
 
 
 
94,264,234
 
 
 
13,191,706
 
 
 
38,148,634
 
 
132.03
 
136.76
 
10,467
 
2,153
2023
 
 
5,250,680
 
 
 
304,050,680
 
 
 
12,487,762
 
 
 
96,299,855
 
 
106.80
 
 68.89
 
 8,503
 
1,309
2022
 
 
138,192,032
 
 
 
139,242,032
 
 
 
58,544,998
 
 
 
56,911,587
 
 
 37.95
 
 42.02
 
 6,717
 
 593
2021
 
 
10,631,223
 
 
 
40,389,348
 
 
 
12,161,232
 
 
 
31,342,646
 
 
 48.84
 
 48.00
 
13,746
 
1,618
 
(1)
For fiscal years 2025, 2024, 2023, 2022 and 2021, Safra A. Catz served as our principal executive officer (PEO). Our
non-PEO
NEOs for fiscal years 2022 and 2021 were Lawrence J. Ellison, Edward Screven and Dorian E. Daley. Our non-PEO NEOs for fiscal years 2025, 2024 and 2023 were Jeffrey O. Henley, Stuart Levey and Edward Screven. Maria Smith was a
non-PEO
NEO for fiscal year 2025. In addition, although Mr. Ellison was not an NEO for fiscal year 2025, 2024 or 2023 under applicable SEC rules, we have voluntarily included him as a
non-PEO
NEO for each of such years.
 
(2)
The amounts reported in this column represent the amount of “compensation actually paid” (CAP) to Ms. Catz computed in accordance with Item 402(v) of Regulation
S-K
and do not reflect the actual amount of compensation earned by or paid to Ms. Catz during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Ms. Catz’s total compensation for each year to determine the CAP:
 
   
Year
 
SCT Total for PEO
($)
 
Deduction of
Equity Amounts
Reported in SCT
($)
 
Fair Value for
Unvested
Awards Granted
in the Covered
Year
($)
 
Fair Value for
Vested Awards
Granted in the
Covered Year
($)
 
Change in Fair
Value of
Outstanding
Unvested Awards
from Prior Years
($)
 
Change in Fair
Value of
Awards from
Prior Years
that Vested in
the Covered
Year
($)
 
CAP to PEO
($)
2025
   
 
1,113,417
   
 
   
 
   
 
   
 
404,300,134 
(a)
   
 
56,392,122
   
 
461,805,673 
2024
   
 
6,464,234
   
 
   
 
   
 
   
 
54,300,000 
(b)
   
 
33,500,000
   
 
94,264,234 
2023
   
 
5,250,680
   
 
   
 
   
 
   
 
298,800,000 
(c)
   
 
   
 
304,050,680 
2022
   
 
138,192,032
   
 
(129,275,000)
   
 
   
 
   
 
123,300,000 
   
 
7,025,000
   
 
139,242,032 
2021
   
 
10,631,223
   
 
   
 
   
 
   
 
29,325,000 
   
 
433,125
   
 
40,389,348 
 
  (a)
This amount includes the change in the fair value of 2,500,000 PSOs (representing the fourth tranche of PSOs) and 2,500,000 PSOs (representing the fifth tranche of PSOs) which were earned in fiscal 2025 and vested in fiscal 2026 on June 24, 2025.
 
  (b)
This amount includes the change in the fair value of 2,500,000 PSOs (representing the third tranche of PSOs) which were earned in fiscal 2024 and vested in fiscal 2025 on June 27, 2024.
 
  (c)
This amount includes the change in the fair value of 2,500,000 PSOs (representing the second tranche of PSOs) which were earned in fiscal 2023 and vested in fiscal 2024 on June 30, 2023.
 
(3)
The amounts reported in this column represent the average amount of CAP to the
non-PEO
NEOs as a group, as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the
non-PEO
NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to the average total compensation for the
non-PEO
NEOs for each year to determine the CAP:
 
Year
 
Average SCT Total
for non-PEO NEOs
($)
   
Deduction of
Average Equity
Amounts
Reported in
SCT
($)
   
Average Fair
Value for
Unvested
Awards Granted
in the Covered
Year
($)
   
Average Fair
Value for
Vested Awards
Granted in the
Covered Year
($)
 
Change in
Average Fair
Value of
Outstanding
Unvested
Awards from
Prior Years
($)
   
Change in Average
Fair Value of
Awards from Prior
Years that Vested
in the Covered
Year
($)
   
Deduction
of Awards
from
Prior
Years
Forfeited
in the
Covered
Year
($)
 
Average CAP
to
non-PEO

NEOs
($)
 
2025
 
 
11,329,031   
 
 
 
(9,581,943)  
 
 
 
7,831,535   
 
 
 
 
86,045,938 
(a) 
 
 
14,409,251   
 
 
(3,496,409)
 
 
106,537,403
 
2024
 
 
13,191,706   
 
 
 
(9,438,478)  
 
 
 
9,932,357   
 
 
 
 
15,424,691 
(b) 
 
 
9,038,358   
 
 
 
 
38,148,634
 
2023
 
 
12,487,762   
 
 
 
(9,341,022)  
 
 
 
14,522,834   
 
 
 
 
78,125,625 
(c) 
 
 
504,656   
 
 
 
 
96,299,855
 
2022
 
 
58,544,998   
 
 
 
(53,190,333)  
 
 
 
8,279,833   
 
 
 
 
39,812,596 
 
 
 
3,464,493   
 
 
 
 
56,911,587
 
2021
 
 
12,161,232   
 
 
 
(6,701,250)  
 
 
 
9,715,000   
 
 
 
 
15,523,575 
 
 
 
644,089   
 
 
 
 
31,342,646
 
 
  (a)
This calculation includes the change in the fair value of 2,500,000 PSOs (representing the fourth tranche of PSOs) and 2,500,000 PSOs (representing the fifth tranche of PSOs) held by Mr. Ellison which were earned in fiscal 2025 and vested in fiscal 2026 on June 24, 2025.
 
  (b)
This calculation includes the change in the fair value of 2,500,000 PSOs (representing the third tranche of PSOs) held by Mr. Ellison which were earned in fiscal 2024 and vested in fiscal 2025 on June 27, 2024.
 
  (c)
This calculation includes the change in the fair value of 2,500,000 PSOs (representing the second tranche of PSOs) held by Mr. Ellison which were earned in fiscal 2023 and vested in fiscal 2024 on June 30, 2023.
 
(4)
The amounts reported in this column reflect the cumulative total stockholder return on our common stock for each of the last four fiscal years ended May 31, 2025, assuming an investment of $100 on May 31, 2020, and the reinvestment of any dividends.
 
(5)
The peer group used in this disclosure, the Dow Jones U.S. Technology Total Return Index, is the same peer group used in the Stock Performance Graph in Part II, Item 5 of our Annual Report on Form
10-K
for the fiscal year ended May 31, 2025. The amounts reported in this column reflect the cumulative total return of the Dow Jones U.S. Technology Total Return Index for each of the last five fiscal years ended May 31, 2025, assuming an investment of $100 on May 31, 2020.
 
(6)
Non-GAAP
operating income is a
non-GAAP
financial measure that reflects adjustments based on stock-based compensation expenses, amortization of intangible assets, acquisition related and other expenses and restructuring expenses. As noted in the CD&A, year-over-year growth in our
non-GAAP
operating income is the financial performance metric that is used to determine performance-based cash bonuses under the Executive Bonus Plan, and which funds our discretionary bonus plan. For more information see “Executive Compensation—Compensation Discussion and Analysis—Elements of Our Executive Compensation Program—Annual Cash Bonuses” beginning on page 51.
       
Company Selected Measure Name Non-GAAP Operating Income Growth        
Named Executive Officers, Footnote Our
non-PEO
NEOs for fiscal years 2022 and 2021 were Lawrence J. Ellison, Edward Screven and Dorian E. Daley. Our non-PEO NEOs for fiscal years 2025, 2024 and 2023 were Jeffrey O. Henley, Stuart Levey and Edward Screven. Maria Smith was a
non-PEO
NEO for fiscal year 2025. In addition, although Mr. Ellison was not an NEO for fiscal year 2025, 2024 or 2023 under applicable SEC rules, we have voluntarily included him as a
non-PEO
NEO for each of such years.
       
Peer Group Issuers, Footnote The peer group used in this disclosure, the Dow Jones U.S. Technology Total Return Index, is the same peer group used in the Stock Performance Graph in Part II, Item 5 of our Annual Report on Form
10-K
for the fiscal year ended May 31, 2025. The amounts reported in this column reflect the cumulative total return of the Dow Jones U.S. Technology Total Return Index for each of the last five fiscal years ended May 31, 2025, assuming an investment of $100 on May 31, 2020.
       
PEO Total Compensation Amount $ 1,113,417 $ 6,464,234 $ 5,250,680 $ 138,192,032 $ 10,631,223
PEO Actually Paid Compensation Amount $ 461,805,673 94,264,234 304,050,680 139,242,032 40,389,348
Adjustment To PEO Compensation, Footnote
   
Year
 
SCT Total for PEO
($)
 
Deduction of
Equity Amounts
Reported in SCT
($)
 
Fair Value for
Unvested
Awards Granted
in the Covered
Year
($)
 
Fair Value for
Vested Awards
Granted in the
Covered Year
($)
 
Change in Fair
Value of
Outstanding
Unvested Awards
from Prior Years
($)
 
Change in Fair
Value of
Awards from
Prior Years
that Vested in
the Covered
Year
($)
 
CAP to PEO
($)
2025
   
 
1,113,417
   
 
   
 
   
 
   
 
404,300,134 
(a)
   
 
56,392,122
   
 
461,805,673 
2024
   
 
6,464,234
   
 
   
 
   
 
   
 
54,300,000 
(b)
   
 
33,500,000
   
 
94,264,234 
2023
   
 
5,250,680
   
 
   
 
   
 
   
 
298,800,000 
(c)
   
 
   
 
304,050,680 
2022
   
 
138,192,032
   
 
(129,275,000)
   
 
   
 
   
 
123,300,000 
   
 
7,025,000
   
 
139,242,032 
2021
   
 
10,631,223
   
 
   
 
   
 
   
 
29,325,000 
   
 
433,125
   
 
40,389,348 
 
  (a)
This amount includes the change in the fair value of 2,500,000 PSOs (representing the fourth tranche of PSOs) and 2,500,000 PSOs (representing the fifth tranche of PSOs) which were earned in fiscal 2025 and vested in fiscal 2026 on June 24, 2025.
 
  (b)
This amount includes the change in the fair value of 2,500,000 PSOs (representing the third tranche of PSOs) which were earned in fiscal 2024 and vested in fiscal 2025 on June 27, 2024.
 
  (c)
This amount includes the change in the fair value of 2,500,000 PSOs (representing the second tranche of PSOs) which were earned in fiscal 2023 and vested in fiscal 2024 on June 30, 2023.
       
Non-PEO NEO Average Total Compensation Amount $ 11,329,031 13,191,706 12,487,762 58,544,998 12,161,232
Non-PEO NEO Average Compensation Actually Paid Amount $ 106,537,403 38,148,634 96,299,855 56,911,587 31,342,646
Adjustment to Non-PEO NEO Compensation Footnote
Year
 
Average SCT Total
for non-PEO NEOs
($)
   
Deduction of
Average Equity
Amounts
Reported in
SCT
($)
   
Average Fair
Value for
Unvested
Awards Granted
in the Covered
Year
($)
   
Average Fair
Value for
Vested Awards
Granted in the
Covered Year
($)
 
Change in
Average Fair
Value of
Outstanding
Unvested
Awards from
Prior Years
($)
   
Change in Average
Fair Value of
Awards from Prior
Years that Vested
in the Covered
Year
($)
   
Deduction
of Awards
from
Prior
Years
Forfeited
in the
Covered
Year
($)
 
Average CAP
to
non-PEO

NEOs
($)
 
2025
 
 
11,329,031   
 
 
 
(9,581,943)  
 
 
 
7,831,535   
 
 
 
 
86,045,938 
(a) 
 
 
14,409,251   
 
 
(3,496,409)
 
 
106,537,403
 
2024
 
 
13,191,706   
 
 
 
(9,438,478)  
 
 
 
9,932,357   
 
 
 
 
15,424,691 
(b) 
 
 
9,038,358   
 
 
 
 
38,148,634
 
2023
 
 
12,487,762   
 
 
 
(9,341,022)  
 
 
 
14,522,834   
 
 
 
 
78,125,625 
(c) 
 
 
504,656   
 
 
 
 
96,299,855
 
2022
 
 
58,544,998   
 
 
 
(53,190,333)  
 
 
 
8,279,833   
 
 
 
 
39,812,596 
 
 
 
3,464,493   
 
 
 
 
56,911,587
 
2021
 
 
12,161,232   
 
 
 
(6,701,250)  
 
 
 
9,715,000   
 
 
 
 
15,523,575 
 
 
 
644,089   
 
 
 
 
31,342,646
 
 
  (a)
This calculation includes the change in the fair value of 2,500,000 PSOs (representing the fourth tranche of PSOs) and 2,500,000 PSOs (representing the fifth tranche of PSOs) held by Mr. Ellison which were earned in fiscal 2025 and vested in fiscal 2026 on June 24, 2025.
 
  (b)
This calculation includes the change in the fair value of 2,500,000 PSOs (representing the third tranche of PSOs) held by Mr. Ellison which were earned in fiscal 2024 and vested in fiscal 2025 on June 27, 2024.
 
  (c)
This calculation includes the change in the fair value of 2,500,000 PSOs (representing the second tranche of PSOs) held by Mr. Ellison which were earned in fiscal 2023 and vested in fiscal 2024 on June 30, 2023.
       
Compensation Actually Paid vs. Total Shareholder Return
Ø
Compensation Actually Paid and Total Stockholder Return
The following graph illustrates the relationship between CAP to our PEO and the average amount of CAP to our
non-PEO
NEOs, our cumulative total stockholder return and our cumulative peer group total stockholder return for fiscal years 2021, 2022, 2023, 2024 and 2025, each as set forth in the pay versus performance table above.
 
LOGO
       
Compensation Actually Paid vs. Net Income
Ø
Compensation Actually Paid and Net Income
The following graph illustrates the relationship between CAP to our PEO and the average amount of CAP to our
non-PEO
NEOs
and
our net income for fiscal years 2021, 2022, 2023, 2024 and 2025, each as set forth in the pay versus performance table above.
 
LOGO
       
Compensation Actually Paid vs. Company Selected Measure
Ø
Compensation Actually Paid and
Non-GAAP
Operating Income Growth
The following graph illustrates the relationship between CAP to our PEO and the average amount of CAP to our
non-PEO
NEOs and our
non-GAAP
operating income growth for fiscal years 2021, 2022, 2023, 2024 and 2025, each as set forth in the pay versus performance table above.
 
LOGO
       
Total Shareholder Return Vs Peer Group
Ø
Compensation Actually Paid and Total Stockholder Return
The following graph illustrates the relationship between CAP to our PEO and the average amount of CAP to our
non-PEO
NEOs, our cumulative total stockholder return and our cumulative peer group total stockholder return for fiscal years 2021, 2022, 2023, 2024 and 2025, each as set forth in the pay versus performance table above.
 
LOGO
       
Tabular List, Table
Financial Performance
Measures
The table below lists the financial performance measures that the Compensation Committee believes represent the most important financial performance measures used to link CAP to our NEOs to Oracle’s performance for fiscal 2025. The metrics noted below are the metrics associated with the operational performance goals of the PSOs held by Mr. Ellison and Ms. Catz during the preceding eight-year performance period. The Compensation Committee also believes that market capitalization goals, which are an element of the PSOs, have been important to align the long-term compensation paid to each such individual with the interests of our stockholders. See “Executive Compensation—Compensation Discussion and Analysis” beginning on page 38 for a further description of our executive compensation program. The performance measures included in this table are not ranked by relative importance.
 
 
Non-GAAP
Total Cloud Revenue
Non-GAAP
Total SaaS Revenue
Non-GAAP
Total PaaS and IaaS Revenue
Non-GAAP
SaaS Gross Margin
Non-GAAP
PaaS and IaaS Gross Margin
       
Total Shareholder Return Amount $ 231.5 132.03 106.8 37.95 48.84
Peer Group Total Shareholder Return Amount 172.38 136.76 68.89 42.02 48
Net Income (Loss) $ 12,443,000,000 $ 10,467,000,000 $ 8,503,000,000 $ 6,717,000,000 $ 13,746,000,000
Company Selected Measure Amount 1,978,000,000 2,153,000,000 1,309,000,000 593,000,000 1,618,000,000
PEO Name Safra A. Catz        
Measure:: 1          
Pay vs Performance Disclosure          
Name Non-GAAP operating income        
Non-GAAP Measure Description
Non-GAAP
operating income is a
non-GAAP
financial measure that reflects adjustments based on stock-based compensation expenses, amortization of intangible assets, acquisition related and other expenses and restructuring expenses. As noted in the CD&A, year-over-year growth in our
non-GAAP
operating income is the financial performance metric that is used to determine performance-based cash bonuses under the Executive Bonus Plan, and which funds our discretionary bonus plan. For more information see “Executive Compensation—Compensation Discussion and Analysis—Elements of Our Executive Compensation Program—Annual Cash Bonuses” beginning on page 51.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Non-GAAP Total Cloud Revenue        
Measure:: 3          
Pay vs Performance Disclosure          
Name Non-GAAP Total SaaS Revenue        
Measure:: 4          
Pay vs Performance Disclosure          
Name Non-GAAP Total PaaS and IaaS Revenue        
Measure:: 5          
Pay vs Performance Disclosure          
Name Non-GAAP SaaS Gross Margin        
Measure:: 6          
Pay vs Performance Disclosure          
Name Non-GAAP PaaS and IaaS Gross Margin        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       $ (129,275,000)  
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 404,300,134 $ 54,300,000 $ 298,800,000 123,300,000 $ 29,325,000
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 56,392,122 33,500,000   7,025,000 433,125
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (9,581,943) (9,438,478) (9,341,022) (53,190,333) (6,701,250)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,831,535 9,932,357 14,522,834 8,279,833 9,715,000
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 86,045,938 15,424,691 78,125,625 39,812,596 15,523,575
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 14,409,251 $ 9,038,358 $ 504,656 $ 3,464,493 $ 644,089
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (3,496,409)        
v3.25.2
Award Timing Disclosure
12 Months Ended
May 31, 2025
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure
Equity Award Timing Policies and Practices
We do not grant equity awards in anticipation of the release of material nonpublic information and we do not time the release of material nonpublic information based on equity award grant dates or for the purpose of affecting the value of executive compensation. In addition, we do not take material nonpublic information into account when determining the timing and terms of such awards. Although we do not have a formal policy with respect to the timing of our equity award grants, the Compensation Committee has historically granted such awards on a predetermined annual schedule. In fiscal 2025, we did not grant new awards of stock options, stock appreciation rights, or similar option-like instruments to our NEOs.
Award Timing Method In addition, we do not take material nonpublic information into account when determining the timing and terms of such awards.
Award Timing Predetermined true
Award Timing MNPI Considered false
Award Timing, How MNPI Considered We do not grant equity awards in anticipation of the release of material nonpublic information and we do not time the release of material nonpublic information based on equity award grant dates or for the purpose of affecting the value of executive compensation.
MNPI Disclosure Timed for Compensation Value false
v3.25.2
Insider Trading Policies and Procedures
12 Months Ended
May 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true