[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce (CRM), executed a set of equity transactions on 10/08/2025. He exercised a non-qualified stock option to acquire 2,250 shares at an exercise price of $161.50, and contemporaneously sold the same total of 2,250 common shares in multiple block trades at weighted average prices ranging from $236.7400 to $241.3000 (individual weighted averages reported). The sales were effected under a Rule 10b5-1 trading plan adopted on 01/09/2025, as indicated on the form. After these transactions, the reporting person is shown as beneficially owning 11,913,821 shares directly (plus 107,000 held by a trust and 10,000,000 held indirectly by Marc Benioff Fund LLC), with derivative holdings of 38,372 option shares outstanding.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-arranged timing and procedural compliance
• Exercise and sale totaled 2,250 shares, a modest and clearly disclosed insider liquidity event
• Large retained indirect holdings — 10,000,000 shares held by Marc Benioff Fund LLC and 11,913,821 shares directly, showing continued substantial ownership

Negative

• Immediate sale of 2,250 shares reduced direct share count by the transacted amount (reported on Form 4)

Insights

Corporate Governance Analyst

Routine insider exercises/options and sales executed under a 10b5-1 plan; disclosure aligns with standard governance practice.

The filing shows an exercise of 2,250 option shares at $161.50 and immediate sales of the same total amount at weighted average prices between $236.74 and $241.30. Reporting the use of a Rule 10b5-1 plan signals pre-arranged execution timing rather than opportunistic trading.

Key dependencies include the terms of the 10b5-1 plan and the option vesting schedule noted in the filing. Monitor any future Form 4 filings for additional material changes to direct or indirect holdings over the next 3–12 months.

Equity Compensation Analyst

Transaction pair (exercise then sale) appears cash-neutral for share count; option vesting schedule remains as disclosed.

The option exercised was from a grant dated 03/22/2020 with vesting described in the filing; the form reports 38,372 options remaining following the transaction. Exercising at $161.50 and selling at ~$237–241 realized a gross spread per share consistent with typical executive liquidity events.

Watch subsequent disclosures for additional option exercises, sales under the 10b5-1 plan, or changes to total derivative counts within the next fiscal year to assess ongoing dilution or insider liquidity patterns.

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)
10/08/2025

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	10/08/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	10/08/2025		S(1)		125	D	$236.8095(3)	11,913,696	D(2)
Common Stock	10/08/2025		S(1)		258	D	$238.31(4)	11,913,438	D(2)
Common Stock	10/08/2025		S(1)		795	D	$239.7174(5)	11,912,643	D(2)
Common Stock	10/08/2025		S(1)		1,039	D	$240.5293(6)	11,911,604	D(2)
Common Stock	10/08/2025		S(1)		33	D	$241.2845(7)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(8)	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	10/08/2025		M(1)			2,250	03/22/2020(9)	03/22/2026	Common Stock	2,250	$0	38,372	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 $236.7400 to $236.9200 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 $237.8900 to $238.8400 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 $239.1000 to $240.0700 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 $240.0950 to $241.0700 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 $241.2800 to $241.3000 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. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

9. 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	10/09/2025
	** 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.

FAQ

What did Marc Benioff report on his Form 4 for Salesforce (CRM)?

The filing reports an exercise of 2,250 option shares at an exercise price of $161.50 and contemporaneous sales totaling 2,250 common shares at weighted average prices between $236.74 and $241.30 on 10/08/2025.

Were the sales pre-planned under a trading plan for CRM insider trades?

Yes. The transactions were effected automatically pursuant to a Rule 10b5-1 trading plan adopted on 01/09/2025, as checked on the Form 4.

How many Salesforce shares does Benioff beneficially own after these transactions?

The Form 4 shows 11,913,821 shares directly, 107,000 by trust, and 10,000,000 indirectly via Marc Benioff Fund LLC, plus 38,372 options outstanding.

What were the sale prices reported for the CRM share disposals?

Sales occurred in multiple trades with weighted average prices reported and ranges disclosed: overall weighted averages listed between $236.8095 and $241.2845, and price ranges per note from $236.7400 up to $241.3000.

What is the vesting schedule for the exercised options referenced in the Form 4?

The filing states the option grant dated 03/22/2020 vests 25% on the first anniversary (03/22/2020) with the balance vesting in equal monthly installments over the following 36 months.