Oracle Corp. said Saturday that Larry Ellison, Executive Chair of the Board and Chief Technology Officer, has cancelled his 10b5-1 plan to sell Oracle stock. The company said no Oracle stock was sold under that plan and that he has no other plans to sell any of his Oracle stock.
The cancelled plan covered up to 50 million shares, according to Reuters and CNBC, and ran from June 22 through Oct. 24. CNBC and Bloomberg Law put the holding at about $7.5 billion mark-to-market at recent prices; that dollar figure is not in the company release and is labeled as journalist mark-to-market, not a company-stated value.
On Friday, Oracle shares surged as much as about 7.8% after a large revenue-backlog increase, then reversed to close at $150.28, down 1.74%. That Friday cash close is color only. U.S. cash markets are closed Saturday; no Monday gap is claimed.
Sources: PR Newswire / Oracle (cancelled; none sold; no other sale plan; Executive Chair and CTO; no $7.5B in PR); Reuters (up to 50 million shares; Friday surge then reverse); CNBC / Lillian Rizzo ($7.5B mark-to-market at recent prices; June 22-Oct 24 window); Bloomberg Law ($7.5B mtm corroboration).
