Form 4: Salesforce CRO Miguel Milano's Routine Stock Activity

Salesforce President and CRO Miguel Milano reported the acquisition of 1,015 common shares from RSU vesting and the disposition of 400 shares for tax purposes.

Summary

• Miguel Milano, President and CRO of Salesforce, Inc. [CRM], reported changes in his beneficial ownership of company securities.
• On September 22, 2025, Milano acquired 1,015 shares of Common Stock through the conversion of Restricted Stock Units (RSUs) at a price of $0.
• Following this acquisition, his direct beneficial ownership of Common Stock was 11,921 shares.
• On the same date, Milano disposed of 400 shares of Common Stock at a price of $249.69 per share.
• This disposition was to satisfy tax liability upon the vesting and settlement of a restricted stock unit award.
• After these transactions, Milano's direct beneficial ownership of Common Stock is 11,521 shares.
• Milano also holds 10,155 Restricted Stock Units, which convert to common stock on a one-for-one basis.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions represent a routine vesting of equity awards and a non-discretionary sale for tax purposes, rather than an open-market purchase or sale indicating a change in management's outlook.

Positives

• The acquisition of 1,015 shares of Common Stock indicates the vesting of previously granted equity awards, aligning management's interests with shareholders.

Negatives

• The disposition of 400 shares of Common Stock represents a reduction in direct ownership, although it was for tax withholding purposes and not a discretionary sale.

Future Outlook

NA

Industry Context

This filing reflects a routine insider transaction related to equity compensation, common across publicly traded companies, particularly in the technology sector where RSUs are a standard component of executive remuneration. It does not provide broader industry insights.

Stakeholder Impact

• Shareholders: The transaction is a routine part of executive compensation and does not indicate a significant shift in insider sentiment or company strategy. It slightly reduces the direct common stock holdings of a key executive due to tax withholding.

Next Steps

• Remaining Restricted Stock Units will continue to vest quarterly at a rate of 1/16 of the original grant.

Key Dates

Keywords

Salesforce, CRM, Miguel Milano, Insider Transaction, Form 4, Restricted Stock Units, Equity Compensation, Stock Ownership