Form 4: Salesforce Executive Parker Harris Executes Stock Options 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 October 29, 2024, according to a Form 4 filing with the SEC.
Summary
- On October 29, 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.
- Simultaneously, Harris sold a total of 4,200 shares in multiple transactions at weighted average prices ranging from $294.0172 to $299.7015.
- Following these transactions, Harris directly owns 119,402 shares of Salesforce common stock.
- Harris also indirectly owns shares through The G. Parker Harris III & Holly L. Johnson Family Trust and several LLCs.
- The transactions were executed automatically pursuant to a Rule 10b5-1 trading plan adopted on September 26, 2023.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects. The use of a 10b5-1 trading plan suggests that these transactions were pre-planned and not based on any specific non-public information.
Comparison to Industry Standards
- Executive compensation packages often include stock options as a way to align management's interests with those of shareholders.
- Rule 10b5-1 trading plans are a common mechanism for executives to sell shares without raising concerns about insider trading.
- Companies like Apple, Microsoft, and Amazon also see regular Form 4 filings from their executives related to stock transactions.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership.
- The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.
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. |
| 10/29/2024 | Date of stock option exercise and share sales. |
| 03/22/2025 | Expiration date of the Non-qualified Stock Option (Right to Buy) |
| 10/30/2024 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.