Larry Ellison scrapped a plan to sell $7.5 billion in Oracle stock before a single share was sold
Ellison canceled the 10b5-1 trading plan one day after a regulatory filing disclosed it, with no explanation given
Larry Ellison abandoned plans to sell $7.5 billion worth of Oracle stock on Saturday, just a day after disclosing a trading strategy to offload up to 50 million shares, valued at approximately $7.5 billion. No shares were sold before his decision to back off. Oracle confirmed in a statement that no Oracle stock was sold under this plan, and that Ellison has no further intentions to sell any of his Oracle shares. The company did not offer any explanation for the cancellation.
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