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CRM insider Miguel Milano reports RSU vesting and share withholding

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Salesforce, Inc. (CRM) reported insider equity activity by its President and Chief Revenue Officer, Miguel Milano. On 11/22/2025, 1,662 restricted stock units were converted into an equal number of common shares at an exercise price of $0. To cover tax obligations from this vesting, 686 shares were withheld at a price of $227.11 per share, as noted in the filing.

Following these transactions, Milano directly owned 12,497 shares of Salesforce common stock and held 11,639 restricted stock units. The RSUs referenced vest 25% of the original grant on August 22, 2024, with the remaining portion vesting in equal quarterly installments through August 22, 2027.

Positive

  • None.

Negative

  • None.
Insider Milano Miguel
Role President and CRO
Type Security Shares Price Value
Exercise Restricted Stock Units 1,662 $0.00 --
Exercise Common Stock 1,662 $0.00 --
Tax Withholding Common Stock 686 $227.11 $156K
Holdings After Transaction: Restricted Stock Units — 11,639 shares (Direct); Common Stock — 13,183 shares (Direct)
Footnotes (1)
  1. Represents shares withheld to satisfy the reporting person's tax liability upon vesting and settlement of a restricted stock unit award. Restricted Stock Units convert to shares of common stock on a one-for-one basis. These Restricted Stock Units vest as to 25% of the original grant on August 22, 2024 and vest as to 1/16 of the original grant quarterly thereafter.
Form 4 Insider Transactions: What Each Field Means →
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).
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*
Milano Miguel
(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
President and CRO
3. Date of Earliest Transaction (Month/Day/Year)
11/22/2025
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 11/22/2025 M 1,662 A $0 13,183 D
Common Stock 11/22/2025 F 686(1) D $227.11 12,497 D
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
Restricted Stock Units $0(2) 11/22/2025 M 1,662 08/22/2024(3) 08/22/2027 Common Stock 1,662 $0 11,639 D
Explanation of Responses:
1. Represents shares withheld to satisfy the reporting person's tax liability upon vesting and settlement of a restricted stock unit award.
2. Restricted Stock Units convert to shares of common stock on a one-for-one basis.
3. These Restricted Stock Units vest as to 25% of the original grant on August 22, 2024 and vest as to 1/16 of the original grant quarterly thereafter.
/s/ Sarah Dale, Attorney-in-Fact for Miguel Milano 11/24/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Salesforce (CRM) report for Miguel Milano?

The filing shows that on 11/22/2025, President and CRO Miguel Milano had 1,662 restricted stock units convert into common shares and 686 shares withheld to satisfy tax liabilities.

How many Salesforce (CRM) shares does Miguel Milano own after this Form 4?

After the reported transactions, Miguel Milano directly owned 12,497 shares of Salesforce common stock and held 11,639 restricted stock units.

What was the purpose of the 686 Salesforce (CRM) shares reported as disposed of?

The 686 shares were withheld to satisfy Miguel Milano’s tax liability upon vesting and settlement of a restricted stock unit award, at a price of $227.11 per share.

At what price did the reported Salesforce (CRM) tax withholding occur?

The shares withheld for taxes in connection with the RSU vesting were valued at $227.11 per share.

How do Miguel Milano’s Salesforce (CRM) restricted stock units vest?

The restricted stock units vest as to 25% of the original grant on August 22, 2024, with 1/16 of the original grant vesting quarterly thereafter until August 22, 2027.

What is the conversion ratio of Salesforce (CRM) restricted stock units to common stock?

Each restricted stock unit converts into one share of Salesforce common stock on a one-for-one basis.