Form 4: Salesforce Executive Parker Harris Reports Stock Transactions
SEC Form 4 Filing
Parker Harris, Co-Founder and CTO of Slack at Salesforce, reports the acquisition and disposal of common stock and derivative securities.
Summary
- Parker Harris, a Director and Co-Founder and CTO, Slack at Salesforce, filed a Form 4 detailing changes in beneficial ownership.
- On September 11, 2024, Harris exercised options to acquire 2,072 shares of common stock at a price of $118.04 and disposed of 2,072 shares at $250.
- Following these transactions, Harris directly owns 117,581 shares of common stock.
- Harris also indirectly owns shares through various LLCs and a family trust.
- 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 standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the tech industry. It provides transparency into the executive's trading activities and holdings in the company.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies, particularly in the technology sector.
- Similar filings are regularly made by executives at companies like Microsoft, Apple, and Amazon.
- The use of Rule 10b5-1 trading plans is a standard practice to avoid accusations of insider trading.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares traded compared to the overall market capitalization of Salesforce.
- The filing provides transparency to stakeholders regarding executive compensation and stock ownership.
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. |
| 09/11/2024 | Date of stock option exercise and sale. |
| 09/12/2024 | 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.