Salesforce (CRM) director Amy Chang receives 424 RSUs vesting Aug–Nov 2025

Amy Chang, a Salesforce (CRM) director, reported receipt of 424 restricted stock units (RSUs) that convert one-for-one to common stock.

Rhea-AI Filing Summary

Amy Chang, a Salesforce (CRM) director, reported receipt of 424 restricted stock units (RSUs) that convert one-for-one to common stock. The Form 4 shows a grant dated 08/22/2025 with transaction code "M" indicating acquisition under a Rule 16b-3 exemption. The RSUs vest 50% on 08/22/2025 and 50% on 11/22/2025, converting to 424 shares of common stock; the reported acquisition price is $0, consistent with typical equity awards to insiders. The filing was signed by an attorney-in-fact on 08/25/2025.

Insights

Corporate Governance Expert

TL;DR: Routine insider award to a director: 424 RSUs vesting in two tranches, standard for equity compensation.

The Form 4 documents a non-derivative acquisition of 424 restricted stock units by director Amy Chang under transaction code "M", indicating a grant or award compliant with Rule 16b-3. The units convert one-for-one into common shares and vest 50% on each cited date, suggesting retention-focused compensation. There is no cash consideration reported and no indication of accelerated vesting or unusual terms in the disclosed fields.

Securities Analyst

TL;DR: Non-material director equity grant; transaction unlikely to move market or materially change ownership.

The disclosure shows an insider acquisition of 424 shares via RSUs at $0, with vesting split between 08/22/2025 and 11/22/2025. The quantity is small relative to a large-cap issuer like Salesforce and the filing contains no derivative exercises, sales, or other dispositions. This appears to be routine compensation with no immediate liquidity event or change to beneficial ownership beyond the 424 shares upon vesting.

Insider Trade Summary

424 shares exercised/converted

Exercise 2 txns

Insider Chang Amy

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	424	$0.00	$0.00
Exercise	Common Stock	424	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 424 contracts (Direct); Common Stock — 424 shares (Direct)

Footnotes (2)

1. F1. Restricted Stock Units convert to shares of common stock on a one-for-one basis.
2. F2. These restricted stock units vest as to 50% of the original grant on each of August 22, 2025 and November 22, 2025.

FAQ

What did Amy Chang report on the Form 4 for Salesforce (CRM)?

The Form 4 reports acquisition of 424 restricted stock units (RSUs) that convert one-for-one to common stock, filed for transaction date 08/22/2025.

When do the RSUs reported by Amy Chang vest?

The RSUs vest 50% on 08/22/2025 and 50% on 11/22/2025, per the filing explanation.

Was any cash paid for the RSUs reported on the Form 4?

No cash price is reported; the Form shows a price of $0, consistent with typical awards that convert to shares upon vesting.

What does transaction code "M" mean in this Form 4?

In this filing, transaction code "M" is used to indicate an acquisition of securities under an exemption such as Rule 16b-3; the form itself shows the code but does not expand on plan details.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Sarah Dale, Attorney-in-Fact for Amy Chang on 08/25/2025 as indicated in the signature block.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/25/2025 - 07:20 PM Learn about SEC filing dates

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^*

Chang Amy

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		M		424	A	$0	424	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(1)	08/22/2025		M			424	08/22/2025(2)	11/22/2025	Common Stock	424	$0	424	D

Explanation of Responses:

1. Restricted Stock Units convert to shares of common stock on a one-for-one basis.

2. These restricted stock units vest as to 50% of the original grant on each of August 22, 2025 and November 22, 2025.

	/s/ Sarah Dale, Attorney-in-Fact for Amy Chang	08/25/2025
	** 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.