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Oracle Investors Say No to Exec Pay for Sixth Straight Year

Proposal fails even though founder Larry Ellison owns about 28% of stock.

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Oracle Corp. shareholders rejected the software maker’s executive compensation plan for a sixth straight year after it awarded the top three bosses pay packages worth more than $100 million each in fiscal 2018.

A majority of shares voted opposed the program, according to preliminary results announced Wednesday at Oracle’s annual meeting in Redwood City, Calif. It’s the only S&P 500 company that hasn’t secured majority approval in a say-on-pay vote since 2011, even though founder and chief technology officer Larry Ellison owns about 28% of the stock.

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