Form 4: Salesforce CEO Benioff Sells Shares Under 10b5-1 Plan
Insider Transaction Report
Salesforce CEO Marc Benioff reported the exercise of stock options and subsequent sale of common stock on September 8, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- Marc Benioff, Chair and CEO of Salesforce, Inc. [CRM], reported transactions on September 8, 2025.
- The transactions were executed automatically pursuant to a Rule 10b5-1 trading plan adopted on January 9, 2025.
- Exercised 2,250 non-qualified stock options at an exercise price of $161.5 per share.
- Sold a total of 2,250 shares of common stock in multiple transactions at weighted average prices ranging from $247.71 to $251.5627.
- Following these transactions, Benioff directly holds 11,911,571 shares of common stock.
- Indirectly holds 107,000 shares via the Marc R. Benioff Revocable Trust and 10,000,000 shares via Marc Benioff Fund LLC.
- Beneficially owns 87,872 non-qualified stock options after the reported transactions.
Sentiment
Score: 5
Explanation: Neutral. This is a routine, pre-planned insider transaction (option exercise and sale) under a 10b5-1 plan, which is common for executives for diversification and liquidity purposes. It does not indicate a change in company fundamentals or management's view of the company's prospects.
Positives
- Transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating planned, not reactive, sales.
Negatives
- Sales by a key executive, even if planned, reduce their direct equity stake in the company.
Future Outlook
No forward-looking statements or guidance were provided in this filing.
Industry Context
This filing reports an individual insider transaction and does not provide broader industry context.
Stakeholder Impact
- Shareholders: The transactions represent routine, pre-planned sales by a key executive, which are common for diversification and liquidity, and do not indicate a change in company fundamentals.
Next Steps
- The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the reported ranges.
Key Dates
| Date | Description |
|---|---|
| 2020-03-22 | Option vesting commencement date for the exercised options. |
| 2025-01-09 | Date Rule 10b5-1 trading plan was adopted by Marc Benioff. |
| 2025-09-08 | Date of reported stock option exercise and common stock sales. |
| 2025-09-09 | Date the Form 4 was signed. |
| 2026-03-22 | Expiration date of the non-qualified stock options. |
Keywords
Salesforce, CRM, Marc Benioff, Insider Trading, Form 4, Stock Option Exercise, Stock Sale, 10b5-1 Plan, CEO
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.