Form 4: Salesforce CEO Marc Benioff Sells Shares Worth Millions
SEC Form 4 Filing
Salesforce's Chair and CEO, Marc Benioff, sold a portion of his holdings in the company's common stock on May 30, 2024, under a pre-arranged trading plan.
Summary
- Marc Benioff, Chair and CEO of Salesforce, sold shares of the company's common stock on May 30, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on December 29, 2023.
- A total of 16,000 shares were sold in multiple transactions at varying prices.
- The prices ranged from $212.7352 to $223.8100 per share.
- Following the transactions, Benioff directly owns 12,407,327 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 reporting stock sales by an executive, which is neither inherently positive nor negative. The use of a 10b5-1 plan suggests the sales were pre-planned.
Industry Context
Executive stock sales are a common occurrence, and the use of a pre-arranged 10b5-1 trading plan suggests the sales were planned and not based on any specific inside information.
Stakeholder Impact
- The stock sale could have a minor impact on shareholder sentiment, but the pre-planned nature of the transaction mitigates potential concerns.
Key Dates
| Date | Description |
|---|---|
| 2023/12/29 | Date of adoption of Rule 10b5-1 trading plan |
| 2024/05/30 | Date of stock sale transactions |
| 2024/05/31 | Date of Form 4 filing |
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