Red Hat Inc. shareholders have approved a change in stock ownership requirements for its executives, according to a Securities and Exchange Commission filing on Monday.

The CEO, who is currently James Whitehurst, must hold at least 81,000 shares while executive vice president must own at least15,000 shares.

At Monday’s price of stock, the CEO’s minimum holdings equal $6.37 million and the executive vice presidents shares each equal $1.18 million.

Whitehurst currently holds more than 440,000 Red Hat shares, and the current executive vice presidents all hold more than 50,000 shares, according to the company’s most recent proxy statement.

Senior vice presidents must hold 9,000 shares, and non-employee directors must hold 4,000 shares. Only one director currently holds fewer than 4,000 shares, according to the proxy, which can be found here.

The board’s compensation committee administers and interprets the stock ownership policy. The levels are based on the person’s salary or retainer, depending on the position.

The company recently reported revenue of $599.8 million for three months ended Aug. 31, up 19 percent compared to last year. This number was more than $10 million than analyst estimates.  Read more about it here.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism