Oracle's co-founder and Executive Chairman, Larry Ellison, has canceled a plan to sell up to 50 million shares of the company, a stake valued at approximately $7.5 billion. The trading plan was initially adopted on June 22, 2026, and was disclosed in a regulatory filing just a day before its cancellation. No shares were sold under this plan.
The decision comes as Oracle invests heavily in its cloud and AI infrastructure, leading to a negative free cash flow of $5 billion in the most recent quarter. The company has also been undergoing restructuring, recently increasing its estimated costs for workforce reductions by $700 million to a total of $2.8 billion. The cancellation of the large stock sale by its largest individual shareholder could be interpreted as a move to bolster investor confidence amidst these significant expenditures and a 23% year-to-date decline in the stock price.