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Larry Ellison Cancels $7.5 Billion Stock Sale Plan for Oracle Shares
Just the facts
Oracle Corporation co-founder and chief technology officer Larry Ellison revoked a Rule 10b5-1 trading plan that authorized the sale of up to $7.5 billion in company stock. Securities disclosures confirmed that the share disposition arrangement was formally terminated prior to the execution of any stock transactions under the plan. Ellison remains the largest individual shareholder in the Austin, Texas-based enterprise software company. Shares of Oracle Corporation experienced minor price movements following the public filing of the cancellation notice.
Why this is news
Oracle Corporation co-founder Larry Ellison canceled a previously registered trading plan to sell up to $7.5 billion worth of company shares.
Sources
This summary is compiled strictly from the original reporting below.