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

Salesforce's Chair and CEO, Marc Benioff, executed sales of common stock on May 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Marc Benioff, Chair and CEO of Salesforce, sold shares of common stock on May 13, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 29, 2023.
• A total of 6,232 shares were sold at a weighted average price of $276.4257, with prices ranging from $275.7300 to $276.7200.
• An additional 8,768 shares were sold at a weighted average price of $277.132, with prices ranging from $276.7300 to $277.6400.
• Following these transactions, Benioff directly owns 12,587,327 shares and indirectly owns 10,000,000 shares through the Marc Benioff Fund LLC.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The impact is likely to be minimal given the pre-planned nature of the sales and the relatively small volume compared to the total outstanding shares.

Key Dates