Oracles Henley to Sell $25M Worth of Company Stock

 
 
By Lisa Vaas  |  Posted 2005-01-24 Email Print this article Print
 
 
 
 
 
 
 

Oracle Chairman Jeff Henley is planning to sell more than $25 million worth of his company's stock over a six-month period commencing no sooner than March, the company announced.

Oracle Corp. Chairman Jeff Henley is planning to sell more than $25 million worth of his companys stock over a six-month period commencing no sooner than March, the company announced on Monday. As of Monday morning, the stock price for the Redwood Shores, Calif., database company was up 1.2 percent, trading at $13.47.
According to Oracle, Henley has adopted a prearranged stock trading plan to sell part of his company stock as "part of his individual long-term strategy for asset diversification and liquidity."
The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and Oracles own policies on stock transactions. Under this plan, Henley may sell up to 1.9 million shares over the span of about six months. The shares will be acquired through Henleys exercising of employee stock options and will be subject to a series of laddered price triggers. If Henley sells all 1.9 million shares, he would be left with about 11.3 million shares of Oracles outstanding stock.
Transactions under the plan will be disclosed with Form 144 and Form 4 filings with the SEC and will also be posted on the investor relations portion of Oracles site. Check out eWEEK.coms for the latest database news, reviews and analysis.
 
 
 
 
Lisa Vaas is News Editor/Operations for eWEEK.com and also serves as editor of the Database topic center. Since 1995, she has also been a Webcast news show anchorperson and a reporter covering the IT industry. She has focused on customer relationship management technology, IT salaries and careers, effects of the H1-B visa on the technology workforce, wireless technology, security, and, most recently, databases and the technologies that touch upon them. Her articles have appeared in eWEEK's print edition, on eWEEK.com, and in the startup IT magazine PC Connection. Prior to becoming a journalist, Vaas experienced an array of eye-opening careers, including driving a cab in Boston, photographing cranky babies in shopping malls, selling cameras, typography and computer training. She stopped a hair short of finishing an M.A. in English at the University of Massachusetts in Boston. She earned a B.S. in Communications from Emerson College. She runs two open-mic reading series in Boston and currently keeps bees in her home in Mashpee, Mass.
 
 
 
 
 
 
 

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