Oracle Corporation has filed an amended Form 8-K (8-K/A) with the U.S. Securities and Exchange Commission (SEC) on February 26, 2025, updating a previous filing regarding the retirement of Edward Screven, Executive Vice President and Chief Corporate Architect.

The original Form 8-K, filed on January 13, 2025, announced Screven’s retirement by the end of February 2025. However, the amended filing clarifies that he will remain employed by Oracle on a part-time basis as a Technical Advisor, reporting to CEO Safra Catz, effective March 1, 2025.

As part of this transition, the Compensation Committee of Oracle’s Board of Directors approved the following changes to Screven’s compensation:
- His salary will be reduced by 50% to $450,000 per year.
- 50% of his unvested restricted stock units (granted between 2021 and 2024) will be canceled.
- He will no longer participate in Oracle’s Executive Bonus Plan for the current fiscal year but may receive a discretionary bonus if a bonus pool is funded at the end of the fiscal year.