Form 4: Salesforce Executive Srinivas Tallapragada Reports Stock Transactions
SEC Form 4 Filing
Srinivas Tallapragada, Pres/Chief Engineering Officer at Salesforce, reported the vesting and sale of restricted stock units to cover tax obligations, along with other transactions.
Summary
- Srinivas Tallapragada, a Pres/Chief Engineering Officer at Salesforce, filed a Form 4 detailing changes in beneficial ownership.
- On June 22, 2024, restricted stock units converted to common stock: 871 shares from a 2022 grant and 1,002 shares from a 2023 grant.
- Also on June 24, 2024, 438 and 504 shares of common stock were sold at a price of $242.3233 per share.
- These sales were to satisfy tax withholding obligations related to the vesting of the restricted stock units.
- Following these transactions, Tallapragada directly owns 22,154 shares of Salesforce common stock and holds derivative securities including 2,615 and 7,018 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by an executive, with no inherent positive or negative sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Form 4 filings provide transparency into these transactions.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are part of standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 03/22/2022 | Date of original grant for some restricted stock units, vesting 25% initially and then 1/16 quarterly. |
| 03/22/2023 | Date of original grant for some restricted stock units, vesting 25% initially and then 1/16 quarterly. |
| 06/22/2024 | Restricted stock units converted to common stock. |
| 06/24/2024 | Shares of common stock were sold. |
| 03/22/2025 | Expiration date for some restricted stock units. |
| 03/22/2026 | Expiration date for some restricted stock units. |
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