SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
WILLIAMS DEREK
(Last) (First) (Middle)
C/O DELPHI ASSET MANAGEMENT CORPORATION
6005 PLUMAS STREET, SUITE 202
(Street)
RENO NV 89509
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ORACLE CORP /DE/ [ ORCL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Vice President
3. Date of Earliest Transaction (Month/Day/Year)
01/20/2004
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/30/2003 J(1) V 1,280 A $9.214 36,358 D
Common Stock 01/20/2004 M 180,000 A $3.7917 216,358 D
Common Stock 01/20/2004 M 210,000 A $4.073 426,358 D
Common Stock 01/20/2004 M 450,000 A $6.875 876,358 D
Common Stock 01/20/2004 M 250,000 A $8.68 1,126,358 D
Common Stock 01/20/2004 S 10,000 D $14.57 1,116,358 D
Common Stock 01/20/2004 S 5,000 D $14.58 1,111,358 D
Common Stock 01/20/2004 S 10,000 D $14.6 1,101,358 D
Common Stock 01/20/2004 S 31,500 D $14.61 1,069,858 D
Common Stock 01/20/2004 S 42,008 D $14.62 1,027,850 D
Common Stock 01/20/2004 S 58,492 D $14.63 969,358 D
Common Stock 01/20/2004 S 43,000 D $14.65 926,358 D
Common Stock 01/20/2004 S 84,287 D $14.66 842,071 D
Common Stock 01/20/2004 S 25,803 D $14.67 816,268 D
Common Stock 01/20/2004 S 94,133 D $14.68 722,135 D
Common Stock 01/20/2004 S 10,000 D $14.69 712,135 D
Common Stock 01/20/2004 S 100,000 D $14.7 612,135 D
Common Stock 01/20/2004 S 11,000 D $14.72 601,135 D
Common Stock 01/20/2004 S 74,910 D $14.73 526,225 D
Common Stock 01/20/2004 S 31,900 D $14.74 494,325 D
Common Stock 01/20/2004 S 4,200 D $14.76 490,125 D
Common Stock 01/20/2004 S 63,767 D $14.77 426,358 D
Common Stock 01/20/2004 S 60,231 D $14.82 366,127 D
Common Stock 01/20/2004 S 10,000 D $14.86 356,127 D
Common Stock 01/20/2004 S 200 D $14.9 355,927 D
Common Stock 01/20/2004 S 5,761 D $14.91 350,166 D
Common Stock 01/20/2004 S 70,000 D $14.92 280,166 D
Common Stock 01/20/2004 S 181,685 D $14.93 98,481 D
Common Stock 01/20/2004 S 15,700 D $14.94 82,781 D
Common Stock 01/20/2004 S 16,605 D $14.95 66,176 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $3.7917 01/20/2004 M 180,000 (2) 07/11/2007 Common Stock 180,000 $0 0 D
Non-Qualified Stock Option (right to buy) $4.073 01/20/2004 M 210,000 (2) 07/10/2008 Common Stock 210,000 $0 0 D
Non-Qualified Stock Option (right to buy) $6.875 01/20/2004 M 450,000 (2) 06/04/2009 Common Stock 450,000 $0 0 D
Non-Qualified Stock Option (right to buy) $8.68 01/20/2004 M 250,000 (2) 07/03/2012 Common Stock 250,000 $0 750,000 D
Explanation of Responses:
1. Securities acquired in exempt purchase under Company's Section 423 Employee Stock Purchase Plan.
2. Option vests 25% annually on anniversary of grant date
Remarks:
1 of 2 Forms 4 filed to report exercise of options and multiple sales on same day.
/s/Barbara R. Wallace by Barbara R. Wallace, Attorney in Fact for Derek H. Williams (POA filed 6/3/03) 01/21/2004
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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