Form 4: Informatica Director Sells Shares Post-Salesforce Merger

Informatica Director Gerald Held disposed of all Class A Common Stock and stock options following the company's merger with Salesforce, Inc. on November 18, 2025.

Summary

• Informatica Inc. merged with Phoenix I Merger Sub, Inc., a wholly-owned subsidiary of Salesforce, Inc., on November 18, 2025, with Informatica Inc. surviving as a wholly-owned subsidiary of Salesforce.
• At the effective time of the merger, each share of Informatica's Class A Common Stock held by the Reporting Person was converted into the right to receive $25.00 in cash.
• Director Gerald Held disposed of 198,845 shares of Class A Common Stock.
• All outstanding restricted stock units (RSUs) held by the Reporting Person were cancelled and converted into the right to receive the merger consideration.
• All in-the-money options to purchase Class A Common Stock held by the Reporting Person were cancelled and converted into the right to receive the merger consideration, less the exercise price and applicable tax withholdings.
• Gerald Held disposed of stock options to buy 15,000 shares at $20, 5,319 shares at $8.7, 5,319 shares at $10, 82,978 shares at $10, 22,340 shares at $8.7, and 37,234 shares at $8.7, all on November 18, 2025.

Sentiment

Score: 7

Explanation: The sentiment is positive as the merger was successfully completed as planned, providing a cash exit for shareholders and the reporting person. There are no negative surprises or delays reported.

Positives

• The merger agreement was successfully completed, providing a clear exit for shareholders at a defined cash value.
• Reporting Person Gerald Held received cash consideration for all his Class A Common Stock, RSUs, and in-the-money stock options.

Negatives

• Informatica Inc. is no longer an independent publicly traded company, becoming a wholly-owned subsidiary of Salesforce, Inc.
• The Reporting Person, Gerald Held, no longer holds any direct beneficial ownership in Informatica Inc. securities.

Risks

• The independent operational and strategic risks of Informatica Inc. are now subsumed within Salesforce, Inc.'s broader corporate structure.
• Shareholders of Informatica Inc. no longer participate in the future growth or decline of the company as an independent entity, having received a fixed cash consideration.

Future Outlook

The filing does not provide a future outlook for Informatica Inc. as an independent entity, given its status as a wholly-owned subsidiary of Salesforce, Inc. The future outlook for the combined entity would be part of Salesforce's disclosures.

Industry Context

The acquisition of Informatica by Salesforce represents a significant consolidation in the data management and CRM software sectors. Informatica's data integration and management capabilities are expected to enhance Salesforce's cloud offerings, potentially strengthening its position against competitors in enterprise software solutions.

Comparison to Industry Standards

• The $25.00 per share cash consideration for Informatica's Class A Common Stock aligns with typical merger and acquisition structures where public companies are taken private by larger entities.
• The conversion of RSUs and in-the-money options into cash consideration is a standard practice in such transactions, ensuring all equity holders receive value based on the merger terms.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders of Informatica Inc. received a cash payment of $25.00 per share, concluding their investment in the independent company.
• Employees of Informatica Inc. are now part of the larger Salesforce organization, potentially impacting corporate culture, benefits, and career paths.
• Customers of Informatica Inc. may experience changes in product roadmaps, support, or integration with Salesforce's broader suite of products.

Next Steps

• Informatica Inc. will continue its operations as a wholly-owned subsidiary of Salesforce, Inc.
• Integration efforts between Informatica's operations and Salesforce's ecosystem are expected to proceed.

Key Dates

Keywords

Informatica, INFA, Salesforce, Merger, Acquisition, Form 4, Insider Transaction, Stock Options, Common Stock, Director, Gerald Held