Form 4: Salesforce Executive Parker Harris Executes Stock Option and Sells Shares
SEC Form 4 Filing
Parker Harris, Co-Founder and CTO of Slack at Salesforce, exercised stock options and sold shares of Salesforce common stock on August 13, 2024, according to a recent SEC filing.
Summary
- On August 13, 2024, Parker Harris, Co-Founder and CTO of Slack at Salesforce, exercised non-qualified stock options to acquire 4,200 shares of Salesforce common stock at a price of $118.04 per share.
- Concurrently, Harris sold a total of 4,200 shares in multiple transactions at weighted average prices ranging from $253.8009 to $255.1686.
- Following these transactions, Harris directly owns 117,581 shares of Salesforce common stock.
- Harris also indirectly owns shares through various entities, including The G. Parker Harris III & Holly L. Johnson Family Trust and several LLCs.
- After the transaction, Harris directly holds 50,170 non-qualified stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-existing plan. There's no indication of positive or negative sentiment towards the company's prospects.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into an executive's perspective on the company's value and future prospects. It is important to note that these transactions can be influenced by a variety of factors, including personal financial planning and diversification strategies.
Comparison to Industry Standards
- Executive compensation packages often include stock options as a way to align management's interests with those of shareholders.
- The vesting schedule of the options (25% after one year, then monthly) is a fairly standard practice.
- Sales under a 10b5-1 trading plan are common and allow insiders to sell shares at predetermined times to avoid accusations of insider trading.
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. |
| 08/13/2024 | Date of stock option exercise and share sale. |
| 08/14/2024 | Date of filing the SEC Form 4. |
| 03/22/2025 | Expiration date of the non-qualified stock options. |
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