Business Context and Reporting Period
This Form 8-K was filed by Oracle Corporation on August 15, 2006. The report discloses a material definitive agreement regarding director compensation approved by the Compensation Committee of the Board of Directors.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only specific financial figure disclosed is a cash payment of $42,400 made to H. Raymond Bingham, a director, for his service as Chair of the Nomination and Governance Committee during fiscal year 2006.
Material Changes
There are no material changes to the company's financial position or operations reported in this filing. The document details a specific compensation adjustment where a cash payment was issued in lieu of a stock option grant because the director had not met the 12-month service requirement for the option grant on the scheduled date.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on future performance, risks, contingencies, or unusual items beyond the specific director compensation arrangement described.
Key Facts for Investor Verification
- Oracle approved a $42,400 cash payment to Director H. Raymond Bingham for fiscal year 2006 service.
- The payment replaced a standard stock option grant of 10,000 shares because the director had served less than 12 months as Chair of the Governance Committee by the grant date.
- The transaction was authorized by the Compensation Committee on August 15, 2006.