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Larry Ellison cancels $7.5 billion Oracle stock sale plan
Larry Ellison, the co-founder and executive chairman of Oracle Corporation, has canceled a Rule 10b5-1 trading plan that would have allowed him to sell up to 50 million shares. The cancellation occurred just one day after the plan was made public. Oracle stated that no shares were sold under the arrangement and that Ellison has no current plans to sell any of his holdings.
The original plan, adopted on June 22, would have been valid until October 24. At the time of adoption, the shares were valued at approximately $8.75 billion, but due to a 16% decline in Oracle's stock price, the potential sale was valued at roughly $7.5 billion at recent market prices.
This reversal comes as Oracle faces investor scrutiny regarding its significant capital expenditures on artificial intelligence infrastructure and cloud capabilities. The company has also reported rising restructuring costs, now estimated at $2.8 billion due to job cuts and contract terminations, which is a $700 million increase from previous projections.
Entities
David Ellison · Larry Ellison · OpenAI · Oracle Corp. · Oracle Corporation · Paramount Skydance Corp. · Warner Bros. Discovery
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] Oracle's stock price has declined by 16% since the trading plan was adopted on June 22. www.brasilemfolhas.com.br · www.spacemoney.com.br · www.infomoney.com.br · contilnetnoticias.com.br · thenextweb.com
- [● 12 SOURCES] The canceled stock sale was valued at approximately $7.5 billion at recent market prices. www.brasilemfolhas.com.br · www.spacemoney.com.br · www.infomoney.com.br · bitcoinethereumnews.com · www.kapitalmarktexperten.de · +6 more
- [● 8 SOURCES] Larry Ellison holds approximately 40% of Oracle's shares. www.brasilemfolhas.com.br · www.spacemoney.com.br · www.infomoney.com.br · bitcoinethereumnews.com · www.kapitalmarktexperten.de · +3 more
- [● 5 SOURCES] The company estimates restructuring costs related to job cuts at $2.8 billion. www.brasilemfolhas.com.br · www.spacemoney.com.br · www.infomoney.com.br · www.kapitalmarktexperten.de · contilnetnoticias.com.br
- [● 12 SOURCES] Larry Ellison canceled a Rule 10b5-1 trading plan to sell up to 50 million shares. www.brasilemfolhas.com.br · www.spacemoney.com.br · cryptobriefing.com · www.infomoney.com.br · bitcoinethereumnews.com · +6 more
- [● 4 SOURCES] Restructuring costs increased by $700 million compared to previous projections. www.brasilemfolhas.com.br · www.spacemoney.com.br · www.infomoney.com.br · contilnetnoticias.com.br