Who is George H. Conrades and what is his background?

George H. Conrades has been appointed to Oracle's Board of Directors. He currently serves as the executive chairman of Akamai Technologies, Inc., a company that provides services for accelerating and improving internet content and application delivery. His experience in the internet services sector is expected to be valuable to Oracle.

How will George H. Conrades be compensated for his role on the board?

Mr. Conrades will receive an annual retainer of $52,500, $3,000 for each regular board meeting attended, and $2,000 for each special meeting attended. He is also eligible for equity-based awards under Oracle's Directors' Stock Plan.

What equity awards has Mr. Conrades received?

Upon his appointment, Mr. Conrades was automatically granted a stock option to purchase 60,000 shares of Oracle's common stock, which will vest 25% per year over four years. He will also receive annual stock option grants of 45,000 shares starting May 31, 2009.

Are there any existing business relationships between Oracle and Akamai Technologies?

Yes, Oracle has disclosed related-party transactions with Akamai. In fiscal year 2007, Oracle purchased approximately $145,000 in services from Akamai, and Akamai purchased approximately $2,271,000 in software and services from Oracle. As of December 31, 2007, Oracle had contracted to provide approximately $444,000 of future services to Akamai.

ORCL/ORCL-PD 8-K: Leadership Changes

Summary

Oracle Corporation (ORCL) announced the appointment of George H. Conrades to its Board of Directors, effective January 15, 2008. Mr. Conrades brings significant industry experience, currently serving as executive chairman of Akamai Technologies, Inc. This appointment is a strategic move by Oracle to leverage his expertise in internet services and technology. Investors should note the compensation structure for Mr. Conrades, which includes an annual retainer, per-meeting fees, and equity awards. Notably, he received an automatic stock option grant for 60,000 shares, vesting over four years, and will receive subsequent annual option grants. The company has disclosed related-party transactions with Akamai, highlighting both purchases and sales of services and software, which are generally immaterial in the context of Oracle's overall financials but demonstrate ongoing business relationships.

Key Highlights

1George H. Conrades appointed to Oracle's Board of Directors, effective January 15, 2008.
2Mr. Conrades is the executive chairman of Akamai Technologies, Inc.
3Compensation includes an annual retainer of $52,500 and per-meeting fees.
4Automatic stock option grant of 60,000 shares, vesting 25% annually over four years.
5Eligible for future annual stock option grants of 45,000 shares.
6Disclosure of related-party transactions between Oracle and Akamai, indicating ongoing business dealings.
7Mr. Conrades will not join any board committees at this time.

ORACLE CORP 8-K Report, Executive Changes (Jan 22, 2008)

Summary

Key Highlights

Frequently Asked Questions