Ellison reaps benefits of PeopleSoft buy

Peoplesoft deals gets Oracle exec $6.5m bonus

Oracle chief executive Larry Ellison received a 44 per cent pay rise to $975,000 in the company's 2005 fiscal year, while his annual bonus more than doubled to $6.5m. His stock options increased by 178 per cent to 2.5 million.

Other company executives also received large pay increases, including co-presidents Safra Catz and Charles Philips.

The stock options were awarded to "incentivise these executive officers" for their efforts to acquire PeopleSoft, Oracle said in a filing with the Securities and Exchange Commission.

Ellison's bonus was tied in particular to his work on the PeopleSoft acquisition and his "leadership" in the integration of the companies and their software suites, the filing stated.

Ellison remains the largest individual shareholder in Oracle. His 24.5 per cent stake in the company is valued at roughly $16.6bn based on the current stock price.

For the coming 2006 fiscal year starting on 1 June, Ellison is eligible for a maximum bonus of $9.68m based on his performance and the company's meeting certain targets. His base salary will be pegged at $1m.