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by tiffanyh
592 days ago
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Officers of company's schedule the sale of their stock to signal in advance their sales to preempt insider trading concerns. And as you found, it's managed by a trust. So I don't understand the point you're trying to make. Are you suggesting someone should let their stock expire ($0) that's worth $322M? It seems like you have an axe to grind and I don't understand why. That's all I'll say on this topic. |
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You specifically claimed "Larry has a Blind Trust that sells his stock as they see best fit without his influence." The SEC filings directly contradict this:
1. This is a Revocable Trust, and while technically a blind trust can be revocable, the filings show this trust is actively managed with Ellison's involvement:
- The transactions were specifically timed around options expiration
- The sales were carefully structured in declining price blocks
- The trust uses Ellison's authority as Officer/10% Owner
- Forms are signed by his Attorney
2. These weren't discretionary sales by trustees "as they see best fit" - they were planned options exercises with a clear purpose and strategy.
I don't have an axe to grind. I'm just correcting a mischaracterization about how Larry manages his Oracle holdings. Accuracy matters when discussing corporate governance and SEC filings, especially for a company as significant as Oracle.
If this were a true blind trust they would've exercised the options at $40.47, immediately sell at market (~$143), and net ~$100 profit per share. Instead they did price stepping, and used Larry's Officer status under the pretense of independence.