Form 4: Informatica Officer Sells Shares Post-Salesforce Merger

Informatica's Chief Accounting Officer, Francis R. Santiago, reported the disposition of all Class A Common Stock and stock options following the company's merger with Salesforce.

Summary

• Informatica Inc. merged with Phoenix I Merger Sub, Inc., a wholly-owned subsidiary of Salesforce, Inc., on November 18, 2025.
• Informatica survived the merger as a wholly-owned subsidiary of Salesforce.
• Francis R. Santiago, Chief Accounting Officer, disposed of 43,851 shares of Class A Common Stock.
• Each share of Class A Common Stock was converted into the right to receive $25.00 in cash.
• Outstanding Restricted Stock Units (RSUs) were assumed and converted into Salesforce common stock RSUs based on a conversion ratio.
• In-the-money stock options were cancelled and converted into the right to receive cash consideration based on the $25.00 merger price, less the total exercise price and applicable tax withholdings.
• Options disposed of include 1,312 shares at a $20 exercise price, 1,077 shares at a $12.7 exercise price, and 408 shares at a $14 exercise price.
• Following these transactions, Santiago holds zero beneficial ownership in Informatica's Class A Common Stock or derivative securities.

Sentiment

Score: 7

Explanation: The filing reports the successful completion of a merger, resulting in a cash payout for shares and options, and conversion of RSUs into the acquiring company's stock. This is a positive outcome for the reporting person's holdings as per the merger terms.

Positives

• The reporting person received $25.00 cash per share for 43,851 shares of Class A Common Stock.
• In-the-money stock options were converted into cash, providing a payout for vested options.
• Restricted Stock Units were converted into Salesforce RSUs, maintaining an equity interest in the acquiring company.

Negatives

• The reporting person no longer holds direct beneficial ownership in Informatica Inc.

Future Outlook

NA

Industry Context

The acquisition of Informatica by Salesforce signifies a consolidation in the enterprise software and data management sector. Salesforce, a leader in CRM, likely aims to integrate Informatica's data integration and management capabilities to enhance its cloud offerings and provide more comprehensive solutions to its customers, reflecting a broader trend of technology companies acquiring specialized data firms to bolster their platforms.

Stakeholder Impact

• Shareholders (Informatica): Received $25.00 per share in cash, indicating a successful exit for public shareholders.
• Employees (Informatica): Those with RSUs had them converted to Salesforce RSUs, maintaining an equity stake in the combined entity. Those with in-the-money options received cash payouts.
• Salesforce Shareholders: Salesforce acquired Informatica, potentially enhancing its data capabilities and market position.

Key Dates

Keywords

Informatica, Salesforce, Merger, Acquisition, Form 4, Insider Transaction, Beneficial Ownership, Chief Accounting Officer, INFA