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 March 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Marc Benioff, Chair and CEO of Salesforce, sold shares of common stock on March 1, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on September 21, 2023.
- A total of 13,380 shares were sold in multiple transactions at varying prices.
- The prices ranged from $307.0000 to $318.4085 per share.
- Following the reported transactions, Benioff directly owns 13,311,166 shares and indirectly owns 10,000,000 shares through Marc Benioff Fund LLC.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions.
Risks
- Sales by insiders, even under pre-arranged plans, can sometimes be perceived negatively by the market.
Industry Context
Insider sales are a common occurrence, especially among executives of publicly traded companies. Rule 10b5-1 plans are designed to allow insiders to sell shares without being accused of trading on non-public information.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
Key Dates
| Date | Description |
|---|---|
| 09/21/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 03/01/2024 | Date of stock sale transactions |
| 03/04/2024 | Date of Form 4 filing |
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