Oracle Corp. enticed its new Chief Legal Officer, Stuart Levey, with a significant stock grant when he took up his new role in October 2022. On joining the database-management giant, Levey, who has extensive government experience and once held a top legal position at HSBC Holdings Plc, was issued a special stock grant valued at $11.5 million, as disclosed in a proxy statement the company recently filed with the Securities and Exchange Commission.
Levey succeeded Dorian Daley, who retired following three decades of service with the company, and received a total pay package of $12.8 million. This impressive compensation sum included his salary of $557,765 as well as a cash bonus of $650,000 for the fiscal year, which concluded on May 31, 2023.
Levey’s significant stock incentive, particularly common in tech companies trying to attract high-level executives, paints a compelling picture of his crucial role in this Texas-based databasing powerhouse.
For further details regarding Oracle’s compensation package for their new legal chief, visit here.