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

✦AI Summary

Oracle co-founder Larry Ellison has canceled a pre-arranged plan to sell up to $7.5 billion worth of company stock. The company provided no specific reason for the cancellation, which comes amid ongoing investor concerns regarding Oracle's capital expenditure.

Why it matters

Large-scale stock sales by company founders often signal confidence levels or liquidity needs, making this a significant event for Oracle shareholders and market analysts.

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Sept 12 (Reuters) - 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.

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