Form 4: Salesforce CRO Miguel Milano Reports Stock Transactions

Salesforce President and CRO Miguel Milano reported the acquisition of 1,016 shares from RSU vesting and the disposition of 400 shares for tax purposes.

Summary

• Miguel Milano, President and CRO of Salesforce, Inc. [CRM], reported transactions on December 22, 2025.
• Milano acquired 1,016 shares of Common Stock through the conversion of Restricted Stock Units (RSUs) at a price of $0.
• Concurrently, 400 shares of Common Stock were disposed of at a price of $264.63 per share to satisfy tax liabilities upon the vesting and settlement of the RSU award.
• Following these transactions, Milano's direct beneficial ownership of Common Stock is 13,113 shares.
• The remaining 9,139 Restricted Stock Units convert to shares of common stock on a one-for-one basis.

Sentiment

Score: 6

Explanation: The filing reports routine executive compensation events, specifically the vesting of restricted stock units and the subsequent tax withholding. While the vesting is positive for the executive, the overall impact on the company's financial health or strategic direction is neutral.

Positives

• The vesting of 1,016 Restricted Stock Units represents a scheduled compensation event, increasing the executive's direct ownership before tax withholding.

Negatives

• 400 shares of Common Stock were disposed of to cover the reporting person's tax liability, reducing the net shares acquired from the RSU vesting.

Future Outlook

Remaining restricted stock units are scheduled to vest as to 1/16 of the original grant quarterly after March 22, 2025, until their expiration date of March 22, 2028.

Industry Context

This filing reflects a routine executive compensation event, specifically the vesting of equity awards and subsequent tax management, which is a common practice across the technology industry to align executive incentives with company performance.

Comparison to Industry Standards

• The vesting and tax withholding of restricted stock units are common practices in executive compensation across the technology industry.
• While the filing does not provide specific comparable company data, this type of transaction is consistent with equity compensation structures observed at major tech firms.

Stakeholder Impact

• Minimal impact on shareholders as these are routine executive compensation transactions.
• Employees with similar RSU grants would understand the process.

Next Steps

• Remaining restricted stock units will continue to vest quarterly after March 22, 2025, until fully vested by March 22, 2028.

Key Dates

Keywords

Salesforce, CRM, Form 4, Insider Transaction, Restricted Stock Units, Executive Compensation, Stock Vesting, Tax Withholding