REDWOOD SHORES, Calif., July 21 /PRNewswire/ -- Oracle Corporation today announced that one of its Presidents, Safra Catz, has adopted a pre-arranged stock trading plan to sell a portion of her company stock over time as part of her individual long-term strategy for asset diversification and liquidity. Ms. Catz' Rule 10b5-1 Plan replaces a previous Rule 10b5-1 Plan that she had adopted on April 1, 2005. Under her new Rule 10b5-1 Plan, Ms. Catz may sell up to 800,000 shares over a period of approximately one year. These shares will be acquired through the exercise of employee stock options.
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The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and Oracle's policies regarding stock transactions.
Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. Using these plans, insiders can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any market impact and can avoid concerns about whether they had material, non-public information when they sold their stock.
The transactions under this plan will commence no earlier than August 2006 and will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will also be posted on Oracle's investor relations Web site.
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