Investing.com -- Oracle Corp (NYSE: ORCL) executive chair and chief technology officer Larry Ellison has cancelled a trading plan that would have allowed him to sell up to 50 million shares of the company, Oracle said on Saturday, adding that no shares were sold under the plan and that he has no other plans to sell Oracle stock.

The Rule 10b5-1 trading arrangement was adopted on June 22,, and was scheduled to terminate on October 24, subject to early termination under certain specified events.

Oracle posted stronger-than-expected quarterly earnings, raised its annual guidance and reported a smaller-than-expected cash burn for the quarter.

The company booked more than $30 billion of additional AI cloud contracts during the quarter, bringing its revenue backlog to $664 billion, and raised its fiscal 2027 adjusted earnings forecast by five cents to $8.10 per share while maintaining its spending target of $90 billion to $95 billion.

Oracle’s stock price has fallen more than 20% so far in 2026 amid concerns over the company’s AI-linked spending.

Oracle shares closed at $150.28 on Friday.