Oracle Corp. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Oracle Corporation on October 16, 2008, covering events occurring on October 10, 2008. The report details the approval of a new executive compensation plan at the company's 2008 Annual Meeting of Stockholders.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed relates to executive compensation limits.
- CEO Maximum Bonus (Fiscal 2009): $13,623,000
- Other Participants Maximum Bonus: Based on a fixed multiple of a target bonus, capped below the CEO's maximum.
Material Changes
The primary material change reported is the stockholder approval of the Fiscal Year 2009 Executive Bonus Plan. This plan establishes annual cash bonuses for eligible senior officers contingent upon meeting specific performance criteria, including improvements in non-GAAP pre-tax profit and revenue goals.
Outlook, Risks, and Management Commentary
Management commentary is limited to the description of the new Bonus Plan. The plan links executive compensation to the attainment of performance goals set by the Compensation Committee. No specific forward-looking guidance, risk factors, or contingencies regarding the company's overall business outlook are detailed in this specific filing.
Key Facts for Investor Verification
- Verify the specific performance criteria (non-GAAP pre-tax profit and revenue targets) established by the Compensation Committee for the Fiscal 2009 Bonus Plan.
- Confirm the list of eligible senior officers under the new plan.
- Review the full text of Exhibit 10.24 for detailed terms and conditions of the bonus structure.