Form 4: Salesforce CEO Marc Benioff Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Salesforce CEO Marc Benioff sold shares of CRM stock on March 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Marc Benioff, CEO of Salesforce, sold shares of CRM stock on March 15, 2024.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 21, 2023.
- A total of 14,900 shares were sold in multiple transactions at varying prices.
- The prices ranged from $293.8000 to $299 per share.
- Following the transactions, Benioff directly owns 13,161,166 shares and indirectly owns 10,000,000 shares through Marc Benioff Fund LLC.
- The sales were conducted automatically according to the trading plan.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing regarding stock sales by an executive under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence, often executed under pre-arranged trading plans to avoid accusations of insider trading. The market typically analyzes these sales in the context of the company's performance and future prospects.
Stakeholder Impact
- The stock sale could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| 09/21/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 03/15/2024 | Date of stock sale transactions |
| 03/18/2024 | Date of SEC filing |
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