Salesforce CEO Benioff Exercises, Sells 2,250 Shares

Rhea-AI Filing Summary

Salesforce Chair and CEO Marc Benioff exercised 2,250 non-qualified stock options with a strike price of $161.50, converting them into the same number of common shares, and sold 2,250 shares in multiple transactions at weighted-average prices generally between about $251 and $257 per share under a Rule 10b5-1 trading plan adopted on January 9, 2025. After these transactions he held 11,911,571 Salesforce shares directly, plus indirect holdings of 107,000 shares by trust and 10,000,000 shares through Marc Benioff Fund LLC.

Insights

Financial Analyst

TL;DR: Insider exercised options and sold the resulting shares under a pre-established 10b5-1 plan; overall ownership remains substantial.

The filing shows a routine option exercise of 2,250 shares at $161.50 and contemporaneous sales of 2,250 shares executed pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025. Sales were completed in multiple transactions across price ranges from approximately $251.34 to $257.65, with weighted-average prices provided for each tranche. These trades are consistent with liquidity or portfolio-management activity rather than an unscheduled disposition because they were effected under an established plan. Material ownership remains large, driven by 10.0 million shares held indirectly by the Marc Benioff Fund LLC and over 11.9 million in direct/other indirect holdings as reported.

Corporate Governance Expert

TL;DR: Transactions comply with Rule 10b5-1 disclosure; signatures and explanatory notes provide required transaction ranges and holding details.

The form is properly executed by an attorney-in-fact and includes the Rule 10b5-1 checkbox and explanatory footnotes detailing price ranges for multiple sale tranches and the plan adoption date. The report identifies direct holdings, trust holdings, and fund-held interests, clarifying the nature of indirect beneficial ownership. From a governance and disclosure perspective, the filing furnishes the necessary transactional detail to allow stakeholders and regulators to verify compliance with Section 16 reporting requirements.

Insider Trade Summary

Exercise and Sale: 2,250 shares ($209K approx. pre-tax spread)

Exercise and Sale 10 txns

Insider Benioff Marc

Role Chair and CEO

Sold 2,250 shs ($573K)

Approx. gross sale proceeds $573K

Approx. exercise cost $363K

Approx. pre-tax spread $209K

Type	Security	Shares	Price	Value
Exercise	Non-qualified Stock Option (Right to Buy)	2,250	$0.00	$0.00
Exercise	Common Stock	2,250	$161.50	$363K
Sale	Common Stock	198	$251.9969	$50K
Sale	Common Stock	456	$252.8898	$115K
Sale	Common Stock	242	$254.0811	$61K
Sale	Common Stock	742	$255.017	$189K
Sale	Common Stock	356	$255.8528	$91K
Sale	Common Stock	256	$257.1662	$66K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Non-qualified Stock Option (Right to Buy) — 94,622 contracts (Direct); Common Stock — 11,911,571 shares (Direct); Common Stock — 107,000 shares (Indirect, By Trust); Common Stock — 10,000,000 shares (Indirect, By Marc Benioff Fund LLC)

Footnotes (10)

1. F1. As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 9, 2025.
2. F2. Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust.
3. F3. Weighted average price. These shares were sold in multiple transactions at prices ranging from $251.3434 to $252.3300 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
4. F4. Weighted average price. These shares were sold in multiple transactions at prices ranging from $252.3900 to $253.2500 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
5. F5. Weighted average price. These shares were sold in multiple transactions at prices ranging from $253.4484 to $254.4202 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
6. F6. Weighted average price. These shares were sold in multiple transactions at prices ranging from $254.4775 to $255.4667 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
7. F7. Weighted average price. These shares were sold in multiple transactions at prices ranging from $255.5364 to $256.5200 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
8. F8. Weighted average price. These shares were sold in multiple transactions at prices ranging from $256.6569 to $257.6500 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
9. F9. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.
10. F10. Option vests over four years at the rate of 25% on March 22, 2020, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months.

Key Figures

Options Exercised: 2,250 shares Exercise Price: $161.50 per share Shares Sold: 2,250 shares +4 more

7 metrics

Options Exercised 2,250 shares Non-qualified stock options exercised on September 3, 2025

Exercise Price $161.50 per share Conversion price of the non-qualified stock option

Shares Sold 2,250 shares Sales of Salesforce common stock on September 3, 2025

Sale Price Range $251.3434–$257.6500 per share Weighted-average price ranges across reported sale transactions

Direct Holdings After Transaction 11,911,571 shares Common stock held directly by Marc Benioff after reported trades

Indirect Trust Holdings 107,000 shares Common stock held indirectly by trust

Marc Benioff Fund LLC Holdings 10,000,000 shares Common stock held indirectly through Marc Benioff Fund LLC

Key Terms

Non-qualified Stock Option (Right to Buy), Rule 10b5-1 trading plan, weighted average price, Revocable Trust, +1 more

5 terms

Non-qualified Stock Option (Right to Buy) financial

"Non-qualified Stock Option (Right to Buy) reported as a derivative security"

Rule 10b5-1 trading plan regulatory

"transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"Weighted average price. These shares were sold in multiple transactions at prices"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Revocable Trust financial

"Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust."

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

Marc Benioff Fund LLC financial

"Shares held in the Marc Benioff Fund LLC (the "Fund")."

FAQ

What insider transactions did Salesforce (CRM) CEO Marc Benioff report on September 3, 2025?

Marc Benioff exercised 2,250 non-qualified stock options at a $161.50 strike, acquiring 2,250 Salesforce shares, and sold 2,250 common shares in several transactions at weighted-average prices generally between $251 and $257 per share under a Rule 10b5-1 plan.

How many Salesforce (CRM) shares did Marc Benioff sell, and what was the price range?

He sold 2,250 Salesforce common shares. Footnotes state these were executed in multiple trades at weighted-average prices across ranges from about $251.3434 to $257.6500 per share, with detailed breakdowns available upon request from the issuer or the SEC staff.

What options did Marc Benioff exercise in Salesforce (CRM) on this Form 4?

Benioff exercised 2,250 non-qualified stock options with a conversion price of $161.50 per share, expiring on March 22, 2026. A footnote explains the option vests over four years, with 25% vesting on March 22, 2020 and the remainder in equal monthly installments.

How many Salesforce (CRM) shares does Marc Benioff hold after these reported transactions?

After these transactions, Benioff directly holds 11,911,571 Salesforce common shares. He also reports indirect holdings of 107,000 shares held by a trust and 10,000,000 shares held through Marc Benioff Fund LLC, reflecting substantial ongoing ownership.

Were Marc Benioff’s Salesforce (CRM) stock trades made under a Rule 10b5-1 plan?

Yes. A footnote states the reported transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by Marc Benioff on January 9, 2025, indicating the sales followed a pre-arranged schedule rather than discretionary timing.

What indirect Salesforce (CRM) shareholdings does Marc Benioff disclose?

He reports 107,000 Salesforce shares held indirectly by trust and 10,000,000 shares held via Marc Benioff Fund LLC. Footnotes explain that fund interests are held in his name or in trust, linking these sizable positions to the reporting person.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/04/2025 - 04:26 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Benioff Marc

(Last) (First) (Middle)

415 MISSION STREET

3RD FLOOR

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Salesforce, Inc. [ CRM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chair and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	09/03/2025		S(1)		198	D	$251.9969(3)	11,913,623	D(2)
Common Stock	09/03/2025		S(1)		456	D	$252.8898(4)	11,913,167	D(2)
Common Stock	09/03/2025		S(1)		242	D	$254.0811(5)	11,912,925	D(2)
Common Stock	09/03/2025		S(1)		742	D	$255.017(6)	11,912,183	D(2)
Common Stock	09/03/2025		S(1)		356	D	$255.8528(7)	11,911,827	D(2)
Common Stock	09/03/2025		S(1)		256	D	$257.1662(8)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(9)	By Marc Benioff Fund LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-qualified Stock Option (Right to Buy)	$161.5	09/03/2025		M(1)			2,250	03/22/2020(10)	03/22/2026	Common Stock	2,250	$0	94,622	D

Explanation of Responses:

1. As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 9, 2025.

2. Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust.

3. Weighted average price. These shares were sold in multiple transactions at prices ranging from $251.3434 to $252.3300 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

4. Weighted average price. These shares were sold in multiple transactions at prices ranging from $252.3900 to $253.2500 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

5. Weighted average price. These shares were sold in multiple transactions at prices ranging from $253.4484 to $254.4202 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

6. Weighted average price. These shares were sold in multiple transactions at prices ranging from $254.4775 to $255.4667 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

7. Weighted average price. These shares were sold in multiple transactions at prices ranging from $255.5364 to $256.5200 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

8. Weighted average price. These shares were sold in multiple transactions at prices ranging from $256.6569 to $257.6500 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

9. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

10. Option vests over four years at the rate of 25% on March 22, 2020, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months.

	/s/ Andrew Leeds, Attorney-in-Fact for Marc Benioff	09/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.