Salesforce (NYSE: CRM) begins record $25B accelerated share repurchase under $50B program

Rhea-AI Filing Summary

Salesforce, Inc. has begun a major capital return by commencing prepayment and initial share delivery under its previously announced $25 billion accelerated share repurchase (ASR) agreements. The company received an initial delivery of approximately 103 million shares, which it states is about 80% of the total shares expected to be repurchased based on the March 11, 2026 closing price.

The transaction constitutes immediate execution of half of Salesforce’s $50 billion aggregate share repurchase program authorized in February 2026. The final number of shares and settlement will depend on the volume-weighted average price of Salesforce’s stock during the ASR term, with final settlement expected in the third or fourth quarter of Salesforce’s fiscal year 2027.

Positive

• $25 billion accelerated share repurchase launched, representing immediate execution of half of Salesforce’s $50 billion board-authorized share repurchase program and signaling a strong commitment to returning capital to shareholders.
• Salesforce has already received an initial delivery of approximately 103 million shares, described as about 80% of the total shares anticipated under the ASR, front-loading the effect of the buyback.

Negative

• None.

Insights

Equity Capital Allocation Analyst

Salesforce launches a record $25B ASR as part of a $50B buyback program, signaling strong commitment to returning capital.

Salesforce has entered into accelerated share repurchase agreements totaling $25 billion, immediately executing half of its $50 billion board-authorized share repurchase program. The company has already received an initial delivery of about 103 million shares, described as roughly 80% of the expected total under these ASR contracts.

The ASR is spread across multiple major counterparties, including Banco Santander, Bank of America, Citibank, JPMorgan Chase, and Morgan Stanley, with J. Wood Capital Advisors as advisor. The final share count will be determined by the volume-weighted average price of Salesforce’s common stock over the ASR period, less a discount, with settlement anticipated in the third or fourth quarter of FY27. The size and structure of this program make it a materially positive capital return event, though its ultimate impact will depend on the stock price path during the ASR term.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

March 16, 2026

Date of Report (date of earliest event reported)

Salesforce, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-32224		94-3320693
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

Salesforce Tower

415 Mission Street, 3rd Fl

San Francisco, California 94105

(Address of principal executive offices)

Registrant’s telephone number, including area code: (415) 901-7000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		CRM		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On March 16, 2026, Salesforce, Inc. (the “Company”) issued a press release announcing the prepayment and initial share delivery under the previously announced accelerated share repurchase agreements that the Company entered into with certain financial institution counterparties on March 11, 2026, which provide for the repurchase by the Company of an aggregate of $25 billion of shares of the Company’s common stock. The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Item 7.01, including the exhibit referenced herein and attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Press Release dated March 16, 2026
104		Cover Page Interactive Data File—the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Salesforce, Inc.
By:		/s/ Robin Washington
		Robin Washington
		President and Chief Operating and Financial Officer

Dated: March 16, 2026

Exhibit 99.1

Salesforce Commences Largest-Ever $25 Billion Accelerated Share Repurchase

The historic transaction underscores leadership’s confidence in the company’s position in the Agentic Era and commitment to driving shareholder value

SAN FRANCISCO—March 16, 2026—Salesforce (NYSE: CRM), the world’s #1 AI CRM, today commenced the prepayment and initial delivery of approximately 103 million shares under its previously announced $25 billion accelerated share repurchase (“ASR”) agreements that it entered into on March 11, 2026 with certain financial institutions. This transaction, the largest ASR in history, represents the immediate execution of half of the $50 billion aggregate Share Repurchase Program authorized by Salesforce’s Board of Directors in February 2026.

“We are aggressively repurchasing shares because we are so confident in the future of Salesforce,” said Marc Benioff, Chair and CEO of Salesforce.

“This $25 billion ASR reflects our increased conviction in the durability of our growth and cash flow trajectory,” said Robin Washington, President and Chief Operating and Financial Officer of Salesforce.

Transaction Details

Salesforce has entered into ASR agreements with Banco Santander, S.A., Bank of America, N.A., Citibank, N.A., JPMorgan Chase Bank, National Association, and Morgan Stanley & Co. LLC, with J. Wood Capital Advisors LLC serving as an advisor.

The initial delivery of 103 million shares represents approximately 80% of the total shares anticipated to be repurchased, based on the closing price of Salesforce’s common stock on March 11, 2026. The final number of shares to be repurchased will be determined generally by the volume-weighted average price of Salesforce’s common stock during the term of the transaction, less a discount and subject to adjustments. Final settlement is expected to occur in the third or fourth quarter of Salesforce’s FY27.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about the number of shares to be repurchased under the ASR agreements, the timing and manner of the final settlement under the ASR agreements and the potential utilization of the remaining $25 billion repurchase authorization from Salesforce’s Board of Directors. Forward-looking statements are subject to risks, uncertainties,

and other factors, which could cause actual results to differ materially from current expectations. These risks, uncertainties, and factors include those discussed in our most recent Annual Report on Form 10-K, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections included therein, as may be updated from time to time in our filings with the SEC. Salesforce does not undertake any obligation to update or revise its forward-looking statements except as required by law or regulation.

About Salesforce

Salesforce helps organizations of any size become agentic enterprises — integrating humans, agents, apps, and data on a trusted, unified platform to unlock unprecedented growth and innovation. Visit www.salesforce.com for more information.

Mike Spencer

Salesforce

Investor Relations

investor@salesforce.com

Carolyn Guss

Salesforce

Public Relations

pr@salesforce.com

FAQ

What did Salesforce (CRM) announce regarding its share repurchase program?

Salesforce announced commencement of a $25 billion accelerated share repurchase, executing half of its $50 billion board-authorized share repurchase program. This large ASR immediately returns significant capital to shareholders while reducing the company’s outstanding common stock over the transaction term.

How many Salesforce shares are initially delivered under the $25 billion ASR?

Salesforce expects an initial delivery of approximately 103 million shares under the $25 billion ASR. The company states this equals about 80% of the total shares anticipated to be repurchased, based on the March 11, 2026 closing stock price.

How does the $25 billion ASR relate to Salesforce’s total share repurchase authorization?

The $25 billion accelerated share repurchase represents half of Salesforce’s $50 billion aggregate Share Repurchase Program authorized by its Board in February 2026. This ASR provides immediate execution of a substantial portion of that overall authorization.

When will the final settlement of Salesforce’s $25 billion ASR occur?

Final settlement of Salesforce’s $25 billion accelerated share repurchase is expected in the third or fourth quarter of Salesforce’s fiscal year 2027. The ultimate share count will depend on the volume-weighted average price of Salesforce stock during the ASR term.

How will the final number of Salesforce shares repurchased under the ASR be determined?

The final number of shares under the ASR will be based on the volume-weighted average price of Salesforce’s common stock during the transaction term, less a discount and subject to adjustments. This pricing formula is standard for large accelerated share repurchase structures.

Which financial institutions are counterparties to Salesforce’s $25 billion ASR?

Salesforce’s $25 billion ASR involves Banco Santander, Bank of America, Citibank, JPMorgan Chase, and Morgan Stanley as counterparties. J. Wood Capital Advisors LLC is serving as advisor on the transaction, coordinating this multi-bank structure for the company.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 6.7 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 18.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.4 KB