Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion
Oracle's stock has taken a beating this year amid growing investor concerns over soaring capital expenditure that has pressured its free cash flow.
Oracle said yesterday (12 September) that its co-founder and executive chairman Larry Ellison had cancelled a plan to sell up to 50 million Oracle shares, worth about $7.5 billion at Friday's (11 September) closing price.
Oracle had disclosed in a regulatory filing Friday (11 September) that Ellison had adopted the trading plan on 22 June 2026, and that it was scheduled to expire on 24 October 2026.
"No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock," Oracle said yesterday (12 September).
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Oracle's stock has taken a beating this year amid 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 18 June, 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-fuelled 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 that restructuring costs, part of a plan that includes job cuts, will rise by about $700 million.
