Marc Benioff 10b5-1 Sales: 2,250 CRM Shares Sold After Option Exercise
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce, reported transactions on Form 4 showing exercise of stock options and concurrent sales executed pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025. On 09/12/2025 he exercised a non-qualified stock option to purchase 2,250 shares at a $161.50 exercise price. That same date he sold those 2,250 shares in multiple transactions at weighted-average prices in several ranges from approximately $242.02 to $246.94. After these transactions the filing reports 11,911,571 shares held directly and 107,000 shares held indirectly by trust, plus 10,000,000 shares indirectly held by the Marc Benioff Fund LLC. The Form is signed by an attorney-in-fact on 09/15/2025.
Positive
- Transactions were executed under a Rule 10b5-1 trading plan, demonstrating pre-planned and compliant insider trading procedures.
- Filing discloses weighted-average price ranges and offers to provide transaction-level detail on request, supporting transparency.
Negative
- Insider sold 2,250 shares on 09/12/2025, which may be perceived negatively by some investors despite being planned.
- Limited per-trade detail in the filing; exact number of shares sold at each specific price within the disclosed ranges is not listed here (available on request).
Insights
TL;DR: Routine option exercise and planned sales under a 10b5-1 plan, disclosed and documented, indicating procedural compliance.
The filing documents a standard exercise of a previously granted non-qualified option and contemporaneous sales executed pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025. The reporting provides weighted-average sale price ranges and commits to provide detailed execution-level data on request, which supports transparency. Ownership disclosures separate direct and indirect holdings, including trust and a private fund, clarifying beneficial control. This is a routine insider liquidity event, not a corporate governance change.
TL;DR: Insider exercised 2,250 options and sold the same number of shares the same day under a pre-existing 10b5-1 plan.
The report shows exercise at $161.50 with subsequent sales on 09/12/2025 totaling 2,250 shares, executed across multiple trade prices (weighted-average ranges disclosed). The derivative table reports 78,872 options outstanding after the transactions. Material details such as exact per-trade counts and the precise allocation among reported price buckets are available upon request per the filing. Impact on share count is small relative to reported beneficial holdings and appears routine.
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 | 897 | $242.6369 | $218K |
| Sale | Common Stock | 281 | $243.6185 | $68K |
| Sale | Common Stock | 896 | $244.8163 | $219K |
| Sale | Common Stock | 129 | $245.9844 | $32K |
| Sale | Common Stock | 47 | $246.94 | $12K |
| 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 $242.0200 to $242.9997 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 $243.1402 to $244.0300 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 $244.2300 to $245.2200 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 $245.5700 to $246.3500 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.
