Salesforce CEO Executes 10b5-1 Plan: 2,250 Shares Exercised and Sold
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce (CRM), executed option-related transactions on 08/20/2025 under a Rule 10b5-1 trading plan adopted January 9, 2025. He acquired 2,250 shares via exercise of non-qualified stock options with a conversion/exercise price of $161.50 per share and simultaneously sold a total of 2,250 shares in multiple transactions at weighted-average prices of $245.5134, $246.3727 and $247.0738, reducing his direct beneficial ownership from 11,913,821 to 11,911,571 shares. The filing also discloses indirect holdings of 107,000 shares held by trust and 10,000,000 shares held by the Marc Benioff Fund LLC. The reporting person states the sales were effected automatically pursuant to the 10b5-1 plan and provides price ranges for the multiple sale tranches.
Positive
- Transactions executed under a Rule 10b5-1 plan, showing documented pre-arranged trading and compliance protocols
- Exercise-and-sell completed without materially changing total beneficial ownership; large indirect holdings remain (10,000,000 via Fund)
Negative
- Insider sales of 2,250 shares were reported, which some investors may interpret as a negative signal despite being pre-planned
Insights
TL;DR: CEO exercised 2,250 options and sold the same number of shares under a 10b5-1 plan, leaving substantial remaining ownership.
The transactions show a routine option exercise and immediate disposition of the resulting shares under a pre-established trading plan. The exercise price of $161.50 per share and sale weighted-average prices between about $244.91 and $247.31 reflect a realized spread on the exercised options. The change in direct beneficial ownership is modest in absolute and percentage terms versus the reporting person's multi-million share holdings, and significant indirect holdings remain (107,000 by trust; 10,000,000 by Marc Benioff Fund LLC).
TL;DR: Transactions were processed under a documented 10b5-1 plan, indicating pre-planned, compliant insider trading activity.
The filing explicitly notes the trades were effected automatically pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025, which supports an affirmative defense against insider-trading allegations if conditions are met. The disclosure includes granular weighted-average sale price ranges and identifies the nature of indirect ownership (trust and LLC). The filing is signed by an attorney-in-fact, consistent with authorized reporting practices.
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 | 904 | $245.5134 | $222K |
| Sale | Common Stock | 1,203 | $246.3727 | $296K |
| Sale | Common Stock | 143 | $247.0738 | $35K |
| 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 $244.9120 to $245.8999 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 $245.9231 to $246.8906 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 $246.9174 to $247.3052 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.
