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Oracle CEO Ellison Exercises Options

By Associated Press
December 7, 2007 | Comments (0)

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The chief executive of business software maker Oracle Corp. exercised options for 1 million shares of common stock, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, Larry Ellison reported he exercised the options on Monday for $6.88 apiece, then sold all 1 million shares on the same day for $21.19 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Oracle is based in Redwood City, Calif.

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