Larry Ellison, the world’s fourth-richest person, exercised expiring options and sold $640 million of Oracle Corp. shares this week after the company’s stock surged to a record.
Ellison, 78, offloaded 5.25 million shares from June 20 through June 22 at an average price of about $122, according to a filing late Thursday. During that same period, he also exercised stock options at a conversion price of $30.11 that granted him 5.25 million shares.
The vast gap between the strike price and the current value of the Austin-based company’s shares means Ellison gained about $482 million on the transactions, according to a Bloomberg analysis of the filing.
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