Form 4: Salesforce Executive Parker Harris Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Parker Harris, Co-Founder and CTO of Slack, exercised stock options and sold Salesforce shares on March 5, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On March 5, 2024, Parker Harris, Co-Founder and CTO of Slack (a Salesforce company), exercised non-qualified stock options to acquire 4,200 shares of Salesforce common stock at a price of $118.04 per share.
- Simultaneously, Harris sold a total of 3,738 shares of Salesforce common stock on the same day at prices ranging from $296.9979 to $311.633 per share, under a pre-arranged Rule 10b5-1 trading plan.
- These sales were executed in multiple transactions at varying prices.
- Following these transactions, Harris directly owns 105,498 shares of Salesforce common stock.
- Harris also indirectly owns shares through The G. Parker Harris III & Holly L. Johnson Family Trust and several LLCs.
- After the transaction, Harris directly owns 146,770 derivative securities.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions by an executive under a pre-existing trading plan. There is no indication of positive or negative implications for the company.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like Parker Harris, trade their company's stock. These filings provide transparency into executive compensation and trading activities.
Key Dates
| Date | Description |
|---|---|
| 03/22/2019 | First vesting date of the non-qualified stock option (25% of shares). |
| 09/26/2023 | Date of adoption of the Rule 10b5-1 trading plan. |
| 03/05/2024 | Date of the reported transactions (option exercise and share sales). |
| 03/06/2024 | Date of the Form 4 filing. |
| 03/22/2025 | Expiration date of the non-qualified stock option. |
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