Form 4: Salesforce EVP Sundeep G. Reddy Reports Stock Transactions
SEC Form 4 Filing
Salesforce's EVP & Chief Accounting Officer, Sundeep G. Reddy, reports the acquisition and disposition of common stock and restricted stock units to cover tax obligations.
Summary
- Sundeep G. Reddy, EVP & Chief Accounting Officer of Salesforce, filed a Form 4 detailing changes in beneficial ownership.
- On April 22, 2024, Reddy acquired 423 and 1,947 shares of common stock through the vesting of restricted stock units.
- On April 23, 2024, Reddy disposed of shares of common stock to satisfy tax withholding obligations related to the vesting of restricted stock units.
- The sales were executed in multiple transactions at a price of $273.1522 per share.
- Following these transactions, Reddy directly owns 5,856 shares of Salesforce common stock and 8,381 restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are routine disclosures for corporate insiders and provide transparency into their trading activities. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased trading volume, but the overall effect is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 10/22/2022 | Restricted stock units vest as to 25% of the original grant. |
| 04/22/2024 | Date of earliest transaction; restricted stock units vest as to 25% of the original grant. |
| 04/22/2024 | Acquisition of 423 and 1,947 shares of common stock through vesting of restricted stock units. |
| 04/23/2024 | Sale of shares to satisfy tax withholding obligations. |
| 04/23/2024 | Date of report. |
| 10/22/2025 | Expiration date of some restricted stock units. |
| 04/22/2027 | Expiration date of some restricted stock units. |
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