[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce, reported option exercise and multiple open-market sales under a Rule 10b5-1 plan. On 08/15/2025 he exercised 2,250 non-qualified stock options at a $161.50 exercise price, receiving 2,250 shares. The same day he sold a total of 2,550 shares in several transactions at weighted average prices ranging from approximately $236.00 to $244.19, with individual weighted-average sale prices disclosed per tranche. After these transactions he beneficially owned 11,911,571 shares directly and 10,107,000 shares indirectly (including 10,000,000 held by Marc Benioff Fund LLC and 107,000 by trust). The sales were executed automatically under a 10b5-1 trading plan adopted January 9, 2025.

Positive

• Transactions executed under a Rule 10b5-1 plan, supporting compliance with insider trading rules
• Full disclosure of weighted-average sale prices and offer to provide trade-level breakdowns on request
• Maintained substantial beneficial ownership after transactions (over 11.9 million shares directly plus large indirect holdings)

Negative

• Reported open-market sales of 2,550 shares reduced direct holdings, though the change is small relative to total ownership

Insights

Corporate Insider / Securities Compliance Specialist

TL;DR: CEO exercised vested options and sold a small number of shares under a pre-established 10b5-1 plan; disclosure is routine and compliant.

The filing shows an exercise of 2,250 vested non-qualified options and the contemporaneous sale of 2,550 shares across multiple trades on 08/15/2025. The reporter checked the box confirming these sales were made pursuant to a Rule 10b5-1 plan adopted on January 9, 2025, which supports an affirmative defense against insider trading claims. Holdings after the transactions are disclosed in detail, including direct ownership and indirect holdings through trust and Marc Benioff Fund LLC. From a compliance perspective, the filing includes weighted-average sale prices and offers to provide trade-level breakdowns on request, aligning with disclosure expectations.

Equity Analyst / Insider Activity Specialist

TL;DR: Insider exercised options and modestly reduced a large stake; changes are small relative to total beneficial ownership.

The transaction size—2,550 shares sold versus total direct beneficial ownership of ~11.9 million shares—represents a de minimis change in ownership percentage. The exercise of 2,250 options at $161.50 converted to common stock increases share count by that amount, while the net effect on ownership is minor. The detailed range of sale prices and the presence of substantial indirect holdings via the Marc Benioff Fund LLC are useful for modeling insider concentration but do not indicate a material shift in control.

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)
08/15/2025

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	08/15/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/15/2025		S(1)		186	D	$235.9978(3)	11,913,635	D(2)
Common Stock	08/15/2025		S(1)		84	D	$238.8447(4)	11,913,551	D(2)
Common Stock	08/15/2025		S(1)		282	D	$239.8622(5)	11,913,269	D(2)
Common Stock	08/15/2025		S(1)		252	D	$240.9589(6)	11,913,017	D(2)
Common Stock	08/15/2025		S(1)		687	D	$242.354(7)	11,912,330	D(2)
Common Stock	08/15/2025		S(1)		678	D	$243.0214(8)	11,911,652	D(2)
Common Stock	08/15/2025		S(1)		81	D	$243.987(9)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(10)	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	08/15/2025		M(1)			2,250	03/22/2020(11)	03/22/2026	Common Stock	2,250	$0	121,622	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 $235.9500 to $236.0300 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.

4. Weighted average price. These shares were sold in multiple transactions at prices ranging from $238.2206 to $239.0900 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 $239.4500 to $240.4000 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 $240.5139 to $241.4937 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 $241.6606 to $242.5855 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 $242.7418 to $243.3261 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $243.7481 to $244.1884 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.

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

11. 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	08/18/2025
	** 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 Form 4 for CRM?

The filing reports exercise of 2,250 non-qualified stock options and sale of 2,550 shares on 08/15/2025, with transactions executed under a Rule 10b5-1 plan.

Were the sales by Marc Benioff part of a 10b5-1 trading plan?

Yes. The filing indicates 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 transactions?

He beneficially owns 11,911,571 shares directly and indirectly holds interests totaling 10,107,000 shares (including 10,000,000 in Marc Benioff Fund LLC and 107,000 by trust).

What prices were the shares sold at in the Form 4?

Sales occurred in multiple tranches with weighted-average prices disclosed per tranche, ranging approximately from $235.95 to $244.19.

Did the filing disclose option vesting details?

Yes. The exercised option vests over four years with 25% vesting on the first anniversary (03/22/2020) and the remainder vesting monthly over 36 months; the option exercised had an original grant date of 03/22/2020 and an expiration date of 03/22/2026.