Salesforce CEO Benioff executes 10b5-1 trades: 2,250 options exercised and sold
Rhea-AI Filing Summary
Marc R. Benioff, Chair and CEO of Salesforce, Inc. (CRM), reported transactions effected under a Rule 10b5-1 trading plan on 08/18/2025. He exercised 2,250 non-qualified stock options with an exercise price of $161.50 and received 2,250 shares of common stock. On the same date he sold those 2,250 shares in multiple transactions at weighted-average prices reported in five groups: $239.7259, $240.9677, $242.2313, $243.1347, and $244.1601 (with underlying reported price ranges provided in the filing).
Following these transactions the filing shows Mr. Benioff beneficially owns 119,372 shares directly related to the option pool, 107,000 shares indirectly by trust, and 10,000,000 shares indirectly through the Marc Benioff Fund LLC. The filing was signed by an attorney-in-fact on 08/19/2025 and notes the 10b5-1 plan was adopted on January 9, 2025.
Positive
- Transactions executed under a disclosed Rule 10b5-1 trading plan, indicating pre-arranged and rule-compliant trades
- Detailed disclosure of weighted-average prices and price ranges for the multiple sale tranches, improving transparency
- Substantial remaining indirect ownership reported: 10,000,000 shares via Marc Benioff Fund LLC and 107,000 shares held by trust
Negative
- Disposition of 2,250 shares by the CEO on 08/18/2025 (though reported as executed under a 10b5-1 plan)
- Filing shows concentrated indirect holdings (10,000,000 shares via Fund), which may be seen as concentration risk for single beneficial owner
Insights
TL;DR: Option exercise and full sale executed under a 10b5-1 plan; holdings remain substantial through direct and indirect ownership.
The filing documents a routine insider exercise of 2,250 options and concurrent disposition of the resulting shares, executed pursuant to a pre-existing 10b5-1 trading plan dated January 9, 2025. Sales occurred in multiple tranches at weighted-average prices reported across five price groups, indicating orderly disposals rather than open-market block sales. Post-transaction ownership includes sizeable indirect positions: 107,000 shares via trust and 10,000,000 shares via Marc Benioff Fund LLC, which preserve long-term exposure. For investors, the key takeaway is transparency of execution and that the sales were made under an established plan rather than ad hoc trades.
TL;DR: Insiders used a documented 10b5-1 plan, supporting procedural compliance and disclosure norms.
The report notes the 10b5-1 checkbox and provides detailed weighted-average prices and price ranges for multiple sale tranches, aligning with best practices in disclosure. The form identifies the reporting person as both Chair and CEO and lists direct and indirect ownership structures (individual name, revocable trust, and an LLC). The filing is signed by an attorney-in-fact, which is properly disclosed. From a governance perspective, the filing demonstrates adherence to procedural rules for insider transactions and clear delineation of indirect holdings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-qualified Stock Option (Right to Buy) | 2,250 | $0.00 | -- |
| Exercise | Common Stock | 2,250 | $161.50 | $363K |
| Sale | Common Stock | 76 | $239.7259 | $18K |
| Sale | Common Stock | 408 | $240.9677 | $98K |
| Sale | Common Stock | 798 | $242.2313 | $193K |
| Sale | Common Stock | 664 | $243.1347 | $161K |
| Sale | Common Stock | 304 | $244.1601 | $74K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (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. Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust. Weighted average price. These shares were sold in multiple transactions at prices ranging from $239.4900 to $239.9300 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $240.5619 to $241.5056 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $241.6750 to $242.6591 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $242.6873 to $243.6340 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $243.7682 to $244.5000 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. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust. 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.
