Form 4: Salesforce CEO Marc Benioff Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Salesforce's Chair and CEO, Marc Benioff, executed multiple sales of common stock on April 19, 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 19, 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 prices ranged from $269.1200 to $272.7600 per share.
- Following the transactions, Benioff directly owns 12,827,327 shares and indirectly owns 10,000,000 shares through the Marc Benioff Fund LLC.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock sales under a pre-arranged plan, so it's neutral in sentiment.
Industry Context
Sales by insiders, especially CEOs, are closely watched by investors. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current inside information.
Stakeholder Impact
- The stock sale could have a minor impact on shareholder sentiment, but the pre-planned nature of the sale mitigates concerns.
Key Dates
| Date | Description |
|---|---|
| 12/29/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 04/19/2024 | Date of stock sale transactions |
| 04/22/2024 | Date of Form 4 filing |
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