Oracle cuts pay of top executives

Oracle Corp., which has faced shareholder opposition to its compensation practices, cut pay for its top executives in 2016.

The three executives were among the 20 highest-paid in the U.S. last year, according to the Bloomberg Pay Index, which values equity awards at the end of the fiscal year, continuing a trend of generous pay for Oracle’s bosses.

The executives failed to earn their cash bonuses, which could have been worth as much as $15 million, after missing profit targets.

The Redwood City company paid $1.5 million in security-related costs and expenses for Ellison and $176,156 in security for Hurd.

The company has reduced the number of stock options it pays executives and began paying stock awards that are tied to performance goals in 2015.