Form 4: Salesforce President and CRO Miguel Milano Reports Routine RSU Vesting and Tax-Related Stock Sale

Salesforce, Inc.'s President and Chief Revenue Officer, Miguel Milano, reported the vesting of 1,015 restricted stock units and a subsequent sale of 405 shares to cover tax obligations.

Summary

• Miguel Milano, President and Chief Revenue Officer (CRO) of Salesforce, Inc. (CRM), reported transactions involving company stock.
• On June 22, 2025, 1,015 Restricted Stock Units (RSUs) vested, converting into 1,015 shares of Salesforce common stock.
• These RSUs converted on a one-for-one basis and had a conversion price of $0.
• On June 23, 2025, Mr. Milano disposed of 405 shares of common stock at a price of $262.3478 per share.
• This sale was conducted to satisfy tax withholding obligations related to the settlement of the vested restricted stock unit award.
• Following these transactions, Mr. Milano beneficially owns 9,933 shares of common stock directly.
• Additionally, Mr. Milano beneficially owns 11,170 derivative securities in the form of Restricted Stock Units.
• The original RSU grant vests as to 25% on March 22, 2023, and then 1/16 of the original grant quarterly thereafter, with an expiration date of March 22, 2028.

Sentiment

Score: 5

Explanation: The filing reports routine executive compensation events, specifically the vesting of restricted stock units and a subsequent tax-related stock sale, which are neutral in terms of company performance or outlook.

Positives

• The vesting of Restricted Stock Units indicates the fulfillment of compensation agreements and continued employment of a key executive.
• The conversion of RSUs into common stock increases the executive's direct equity stake in the company (prior to the tax-related sale).

Negatives

• A portion of the vested shares (405 shares) was sold, reducing the executive's direct beneficial ownership of common stock.

Future Outlook

This Form 4 filing primarily reports past transactions and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine insider transaction report, common across all publicly traded companies, reflecting executive compensation practices. It does not provide specific insights into broader industry trends or competitive dynamics within the software or cloud computing sectors.

Stakeholder Impact

• Shareholders: The transactions represent a routine aspect of executive compensation and do not indicate a significant change in the company's financial health or strategic direction. The sale of shares for tax purposes is a common occurrence and not typically indicative of a lack of confidence.
• Employees: The vesting of RSUs is part of standard compensation packages, which can positively impact employee morale and retention.

Next Steps

• Continued quarterly vesting of the original RSU grant as per the established schedule.

Key Dates

Keywords

Salesforce, CRM, Miguel Milano, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Stock Sale, Executive Compensation, Tax Withholding