Form 4: Salesforce CEO Marc Benioff Sells Shares Under 10b5-1 Trading Plan

Salesforce CEO Marc Benioff executed multiple sales of common stock on May 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Marc Benioff, the Chair and CEO of Salesforce, sold shares of the company's common stock on May 17, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 29, 2023.
• A total of 2,694 shares were sold at a weighted average price of $285.1854, with prices ranging from $284.4500 to $285.4400.
• An additional 6,856 shares were sold at a weighted average price of $286.1156, with prices ranging from $285.5000 to $286.4819.
• Furthermore, 5,450 shares were sold at a weighted average price of $286.799, with prices ranging from $286.5000 to $287.0500.
• Following these transactions, Benioff directly owns 12,527,327 shares and indirectly owns 10,000,000 shares through the Marc Benioff Fund LLC.
• The sales were conducted automatically according to the terms of the 10b5-1 trading plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing relates to a pre-planned stock sale under Rule 10b5-1, which is a common practice and doesn't necessarily indicate a change in the executive's outlook on the company.

Industry Context

Executive stock sales are a common occurrence, and pre-planned sales under Rule 10b5-1 are often viewed as less impactful than discretionary sales. Investors often monitor these transactions for insights into executive sentiment, though 10b5-1 plans are designed to mitigate such interpretations.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares, but the pre-planned nature of the sale mitigates concerns about insider sentiment.

Key Dates