Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion

Sept 12 — Oracle said on Saturday that its co-founder and executive chairman Larry ​Ellison had canceled a plan to sell up to 50 million Oracle shares, worth about $7.5 billion at Friday's closing ‌price.

Oracle had disclosed in a regulatory filing Friday that Ellison had adopted the trading ⁠plan on June 22, 2026, ​and that it was scheduled ⁠to expire on October 24, 2026.

"No Oracle stock was sold under ‌that plan, and ‌he has no other plans to sell any of his ⁠Oracle stock," Oracle said on ⁠Saturday.

Oracle's stock has taken a beating this year on growing investor concerns over soaring capital expenditure that has pressured its free cash flow.

The shares are down nearly 23% year to date and were more than 18% below their closing level on ‌June 18, the last trading day ​before Ellison adopted the plan.

Oracle did not give a reason for the cancellation of Ellison's trading plan.

Ellison, 82, served as Oracle's CEO until 2014 and is the company's largest shareholder, owning over 38% of the company, according to LSEG data.

Earlier in the week, Oracle had reported quarterly results that topped Wall ​Street estimates and a smaller cash burn than expected, easing some concerns ‌about its debt-fueled ‌spending ⁠spree and leading to a jump in the shares on Friday.

However, its stock later reversed course as analysts said a recovery in cash flow remained some way off.

The firm also announced restructuring costs, ‌part of a plan ​that includes job cuts, will rise ‌by about $700 million.

(Reporting by ⁠Sumedha Mukherjee ​and Preetika Parashuraman in Bengaluru; Editing by Will Dunham, Chizu Nomiyama and ​Kim Coghill)

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