Form 4: Salesforce Executive R David Schmaier Reports Stock Transactions
SEC Form 4 Filing
R David Schmaier, President & Chief Product Officer at Salesforce, reported the vesting and subsequent sale of common stock to cover tax obligations.
Summary
- R David Schmaier, President & Chief Product Officer of Salesforce, filed a Form 4 detailing changes in beneficial ownership.
- On September 22, 2024, restricted stock units converted to 545 and 711 shares of common stock, respectively.
- Also on September 22, 2024, Schmaier acquired 545 and 711 shares at $0.
- On September 23, 2024, Schmaier sold 274 and 357 shares of common stock at a price of $264.7813 per share.
- These sales were to satisfy tax withholding obligations related to the vesting of restricted stock units.
- Following these transactions, Schmaier directly owns 21,181 shares of Salesforce common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. The sale of shares to cover tax obligations upon vesting of restricted stock units is a common occurrence.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/22/2022 | Date that 25% of the original grant of restricted stock units vest, with 1/16 vesting quarterly thereafter. |
| 03/22/2023 | Date that 25% of the original grant of restricted stock units vest, with 1/16 vesting quarterly thereafter. |
| 09/22/2024 | Restricted stock units converted to common stock. |
| 09/23/2024 | Shares of common stock were sold to cover tax obligations. |
| 03/22/2025 | Expiration date of restricted stock units. |
| 03/22/2026 | Expiration date of restricted stock units. |
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