secwatch.observer — SEC 8-K summary
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Issuer:     ORACLE CORP (ORCL)
CIK:        0001341439
Form:       8-K
Filed at:   2021-07-07T23:59:59+00:00
Accession:  0001193125-21-209906
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oracle extends performance period for Ellison and Catz stock options by 3 years to 2025
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- Compensation Committee approved amendment to 2017 PSOs for CEO Safra Catz and founder Lawrence Ellison.
- Performance period extended from May 31, 2022 to May 31, 2025 (5 to 8 years).
- Cloud PaaS/IaaS margin goal: now requires 30% margin for 3 of 8 fiscal years (was 3 of 5).
- One tranche (1/7th, 2.5M shares) vested to date; additional tranches may vest if goals met by 2025.
- Each option covers 17.5M shares; amendment filed as Exhibit 10.15.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1341439/000119312521209906/0001193125-21-209906-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1341439/000119312521209906/d145474d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-209906

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer