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

Salesforce's Chair and CEO, Marc Benioff, executed multiple sales of common stock on April 25, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Marc Benioff, Chair and CEO of Salesforce, sold shares of common stock on April 25, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 29, 2023.
• A total of 15,000 shares were sold in multiple transactions at varying prices.
• The weighted average sale prices ranged from $270.0637 to $272.7919 per share.
• Following the reported transactions, Benioff directly owns 12,767,327 shares and indirectly owns 10,000,000 shares through Marc Benioff Fund LLC.
• The sales were conducted automatically according to the pre-established trading plan.

Sentiment

Score: 5

Explanation: The document is neutral as it reports routine stock sales under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment.

Future Outlook

The sales will continue under the existing 10b5-1 trading plan.

Industry Context

Executive stock sales are common and often pre-planned to avoid insider trading accusations. Rule 10b5-1 plans allow insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.

Key Dates