Form 4: Salesforce Co-Founder and CTO, Slack, Parker Harris, Reports Stock Sales
SEC Form 4
Parker Harris, Co-Founder and CTO, Slack, of Salesforce, Inc., reports the sale of common stock and exercise of stock options on July 16, 2024, according to a Form 4 filing with the SEC.
Summary
- Parker Harris, Co-Founder and CTO, Slack, of Salesforce, Inc., filed a Form 4 with the SEC on July 17, 2024.
- On July 16, 2024, Harris exercised non-qualified stock options to acquire 4,200 shares of common stock at a price of $118.04 per share.
- On the same day, Harris sold 4,200 shares acquired from option exercise at $118.04.
- Harris also sold 4,199 shares of common stock in multiple transactions at weighted average prices ranging from $253.7393 to $256.4896.
- Following these transactions, Harris directly owns 116,693 shares of common stock.
- Harris also indirectly owns shares through various LLCs and a family trust.
- The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 26, 2023.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider and is a common occurrence in publicly traded companies. It provides transparency into the trading activities of key personnel.
Comparison to Industry Standards
- Form 4 filings are standard practice for executives and directors of publicly traded companies like Salesforce, similar to filings made by insiders at companies like Microsoft (MSFT), Apple (AAPL), and Amazon (AMZN).
- The use of Rule 10b5-1 trading plans is also a common practice among executives to avoid accusations of insider trading, aligning with practices seen at other large tech companies.
Stakeholder Impact
- The stock sales by a company insider could be perceived negatively by some shareholders, although the existence of a pre-arranged trading plan mitigates this concern.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/22/2019 | Option is exercisable and vests over four years at the rate of 25% on March 22, 2019, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months. |
| 09/26/2023 | Date of adoption of Rule 10b5-1 trading plan. |
| 07/16/2024 | Date of stock option exercise and stock sales. |
| 07/17/2024 | Date of Form 4 filing. |
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