Form 4: Salesforce President and COO Brian Millham Reports Stock Transactions
SEC Form 4 Filing
Brian Millham, President and COO of Salesforce, reported the acquisition and disposal of common stock on July 25, 2024, according to a Form 4 filing with the SEC.
Summary
- On July 25, 2024, Brian Millham, the President and COO of Salesforce, engaged in transactions involving Salesforce common stock.
- Millham acquired 2,018 shares of common stock through the exercise of non-qualified stock options at a price of $215.17 per share.
- Simultaneously, Millham disposed of 2,018 shares of common stock at a price of $260 per share.
- These transactions were executed automatically under a pre-arranged Rule 10b5-1 trading plan adopted on December 22, 2023.
- Following these transactions, Millham directly owns 0 shares of common stock.
- Millham also holds 16,143 derivative securities in the form of non-qualified stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock transactions by an insider, which is a routine occurrence. The transactions were pre-planned under a 10b5-1 trading plan.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to the market.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding insider activity.
- The transactions may have a minor impact on the stock price due to the volume of shares traded.
Key Dates
| Date | Description |
|---|---|
| 2022-03-22 | Option is exercisable and vests over four years at the rate of 25% on March 22, 2022, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months. |
| 2023-12-22 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-07-25 | Date of stock option exercise and stock sale. |
| 2024-07-26 | Date of signature on the Form 4 filing. |
| 2028-03-22 | Expiration date of the non-qualified stock options. |
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