[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Salesforce Chair and CEO, reported transactions on 08/21/2025. He exercised a non-qualified stock option for 2,250 shares at an exercise price of $161.50 and immediately sold those 2,250 shares in multiple transactions under a Rule 10b5-1 trading plan at weighted-average prices ranging from $240.41 to $246.11 across several sale tranches. Following the reported activity, the Form 4 shows 11,911,571 shares directly beneficially owned and 10,107,000 shares held indirectly (107,000 by trust and 10,000,000 by Marc Benioff Fund LLC). The filing also discloses 112,622 outstanding non-qualified stock options exercisable following the transactions. The Form 4 was executed by an attorney-in-fact on 08/22/2025.

Positive

• Trades executed under a Rule 10b5-1 plan, indicating the transactions were prearranged
• Substantial ongoing indirect ownership retained: 10,107,000 shares held via trust and Marc Benioff Fund LLC

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine, pre-planned insider exercise and sales under a 10b5-1 plan; no new corporate governance events disclosed.

The filing documents an option exercise and immediate disposition executed pursuant to a Rule 10b5-1 plan adopted January 9, 2025, which signals the trades were prearranged. The disclosure shows substantial ongoing indirect ownership via the Marc Benioff Fund LLC and a revocable trust, preserving long-term alignment with shareholders. No departures, new grants outside the reported option, or material changes to ownership percentages are disclosed.

Securities Analyst

TL;DR: Material impact on ownership is negligible; transaction appears administrative and liquidity-driven.

The transaction set consists of a 2,250-share option exercise at $161.50 and subsequent sales totaling 2,250 shares at weighted-average prices reported across several tranches between $240.41 and $246.11. Post-transaction holdings remain substantial: 11,911,571 shares directly and 10,107,000 indirectly. The 112,622 options remaining are disclosed in Table II. From a market-impact standpoint, the sizes reported are small relative to total disclosed holdings and present no evident change to control or governance.

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)
08/21/2025

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	08/21/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/21/2025		S(1)		204	D	$240.9567(3)	11,913,617	D(2)
Common Stock	08/21/2025		S(1)		174	D	$241.9616(4)	11,913,443	D(2)
Common Stock	08/21/2025		S(1)		254	D	$243.5644(5)	11,913,189	D(2)
Common Stock	08/21/2025		S(1)		726	D	$244.3346(6)	11,912,463	D(2)
Common Stock	08/21/2025		S(1)		708	D	$245.5028(7)	11,911,755	D(2)
Common Stock	08/21/2025		S(1)		184	D	$246.0586(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	08/21/2025		M(1)			2,250	03/22/2020(10)	03/22/2026	Common Stock	2,250	$0	112,622	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 $240.4100 to $241.2900 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 $241.7800 to $242.1100 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 $242.9400 to $243.8818 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 $243.9416 to $244.9145 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 $244.9700 to $245.9454 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 $245.9700 to $246.1110 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	08/22/2025
	** 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.
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FAQ

What transactions did Marc Benioff report on the Form 4 for CRM?

He exercised 2,250 non-qualified stock option shares at a $161.50 exercise price and sold 2,250 common shares in multiple tranches on 08/21/2025.

Were the sales by Marc Benioff part of a trading plan?

Yes. The filing states the transactions were effected automatically pursuant to a Rule 10b5-1 trading plan adopted on January 9, 2025.

How many Salesforce shares does Marc Benioff beneficially own after the reported transactions?

The Form 4 reports 11,911,571 shares directly beneficially owned and 10,107,000 shares indirectly beneficially owned (107,000 by trust; 10,000,000 by Marc Benioff Fund LLC).

What prices were the shares sold at in the reported transactions?

Sales occurred in multiple transactions with weighted-average price ranges reported between approximately $240.41 and $246.11 across different tranches.

How many options does Marc Benioff have outstanding after the exercise?

Table II shows 112,622 non-qualified stock options beneficially owned following the reported transactions.