Ellison Scores $482 Million Gain Cashing in Oracle Options (1)

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.

Larry Ellison

Photographer: David Paul Morris/Bloomberg

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, ...