Oracle founder Larry Ellison adopts plan allowing sales of up to $7.5B in stock

The short version

• Oracle founder Larry Ellison established a regulatory trading plan that permits the sale of up to 50 million company shares, worth as much as $7.5 billion.[CNBC]
• The scheduled trading window opened on June 22 and concludes on Oct. 24, representing an unusually large divestment for Ellison, who has historically sold no more than 25,000 shares at a time this century.[CNBC]
• Ellison retains control of more than 40% of Oracle and would hold 1.1 billion shares even if every share in the plan is sold.[CNBC]
• The filing follows strong cloud infrastructure revenue growth alongside investor worry over company debt, which has contributed to a roughly 20% decline in the stock this year.[CNBC]

Key facts

• Larry Ellison adopted a trading framework permitting the sale of up to 50 million Oracle shares, valued at up to $7.5 billion.[CNBC]
• The preset trading period was adopted on June 22 and is scheduled to conclude on Oct. 24.[CNBC]
• Ellison holds an equity stake exceeding 40% in Oracle and would retain 1.1 billion shares if all plan transactions are executed.[CNBC]
• Ellison has not executed a transaction exceeding 25,000 Oracle shares at any point since the start of this century.[CNBC]
• Oracle recently beat quarterly earnings expectations on a 121% annual jump in cloud infrastructure revenue, while rising debt levels have pushed shares down roughly 20% this year.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Oracle's Larry Ellison adopts trading plan to sell up to $7.5 billion worth of stockCNBC