Oracle CFO exercises options |
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Thu, 27 Sep 2007 16:50
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NEW YORK (AP) - The president and chief financial officer of business software maker Oracle Corp. exercised options for 500,000 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings.In Form 4s filed with the SEC Wednesday, Safra Catz reported she exercised the options Tuesday for $8.68 apiece and then sold all 500,000 of them on the same day for $21.62 to $21.98 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 This material may not be published, broadcast, rewritten, or redistributed.
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