Oracle EVP exercises options |
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Thu, 27 Sep 2007 16:48
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NEW YORK (AP) - An executive vice president of business software maker Oracle Corp. exercised options for 100,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.In a Form 4 filed with the SEC Wednesday, Juergen Rottler reported he exercised the options Tuesday for $12.34 apiece and then sold all 100,000 of them on the same day for $21.95 and $21.96 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.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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