[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce, reported transactions on 08/19/2025 under a Rule 10b5-1 plan adopted January 9, 2025. He exercised 2,250 non-qualified stock options at an exercise price of $161.50 per share, receiving 2,250 shares. Concurrently, he sold a total of 2,250 shares in multiple transactions at weighted average prices ranging from $243.54 to $247.63 (detailed ranges provided). After these transactions he beneficially owns 11,911,571 shares directly and 10,107,000 shares indirectly (107,000 by trust and 10,000,000 by Marc Benioff Fund LLC).

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-established, automated trading and compliance with insider trading controls
• Substantial continued ownership: 11,911,571 shares directly and 10,107,000 shares indirectly, maintaining significant alignment with shareholders

Negative

• Insider sales equal to exercised shares (2,250), which may be viewed as a liquidity event though no further context is provided

Insights

Financial Analyst

TL;DR: Insider exercised options and sold equal shares under a pre-set trading plan; net beneficial ownership remains substantial.

The filing shows an option exercise for 2,250 shares at $161.50 followed by sales of the same 2,250 shares at materially higher prices, executed pursuant to a 10b5-1 plan. This is a routine liquidity event rather than a change in ownership posture. Post-transaction holdings of ~11.9 million direct shares plus ~10.1 million indirect holdings indicate continued significant ownership and alignment with shareholders. No new debt, compensation change, or unusual derivative positions are disclosed.

Corporate Governance Expert

TL;DR: Use of a documented 10b5-1 plan demonstrates adherence to insider trading controls while completing option exercise and sales.

The report explicitly notes the trades were effected automatically under a Rule 10b5-1 plan adopted January 9, 2025, which supports procedural compliance and reduces appearance concerns. The pattern—exercise followed by sales at higher realized prices—aligns with standard pre-planned liquidity and tax-management activity. Substantial residual holdings by trust and Fund maintain governance influence. No unexpected officer resignation or governance events are present.

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)
08/19/2025

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	08/19/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/19/2025		S(1)		336	D	$244.2376(3)	11,913,485	D(2)
Common Stock	08/19/2025		S(1)		1,130	D	$245.0955(4)	11,912,355	D(2)
Common Stock	08/19/2025		S(1)		515	D	$245.7817(5)	11,911,840	D(2)
Common Stock	08/19/2025		S(1)		238	D	$247.0568(6)	11,911,602	D(2)
Common Stock	08/19/2025		S(1)		31	D	$247.6253	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(7)	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	08/19/2025		M(1)			2,250	03/22/2020(8)	03/22/2026	Common Stock	2,250	$0	117,122	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 $243.5400 to $244.5348 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 $244.5728 to $245.4730 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 $245.5700 to $246.0100 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 $246.5709 to $247.5600 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. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

8. 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	08/20/2025
	** 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 trades did Marc Benioff report on Form 4 for CRM?

He exercised 2,250 options at $161.50 per share and sold 2,250 shares on 08/19/2025 under a 10b5-1 plan.

Were the transactions pre-planned or discretionary for CRM insider Marc Benioff?

The filing states the transactions were effected automatically pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025.

How many CRM shares does Marc Benioff beneficially own after the reported transactions?

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

At what prices were the sold CRM shares transacted?

Sales occurred in multiple transactions with weighted average prices and ranges between $243.54 and $247.63 as disclosed in the form.

What was the exercise schedule for the option exercised by Marc Benioff?

The exercised non-qualified option vests over four years with 25% on March 22, 2020 and the balance vesting in equal monthly installments over the following 36 months; the exercised option had an original grant date referenced as 03/22/2020.