Oracle cuts Ellison’s pay to $41.5 million

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

Co-founder and chairman Larry Ellison received $41.5 million, a 35 percent decrease from last year. Co-CEOs Safra Catz and Mark Hurd each received about $41 million, a 23 percent decline.

The drop for the co-CEOs is accentuated by one-time stock awards valued at $9 million that they received when they were promoted at the end of 2014.