[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce (CRM), reported option exercise and multiple open-market sales executed under a Rule 10b5-1 plan. On 08/13/2025 he exercised 2,250 non-qualified stock options with a $161.50 exercise price, converting to 2,250 shares. The filing shows a series of small sales that day totaling 2,350 shares at weighted average prices between $229.85 and $237.28, with specific weighted averages reported for grouped trades. Following these transactions he beneficially owns 11,913,821 shares directly, 107,000 shares indirectly by trust, and 10,000,000 shares indirectly through the Marc Benioff Fund LLC.

Insights

Corporate Governance Expert

TL;DR: Routine executive liquidity under a disclosed 10b5-1 plan; ownership remains substantial.

The activity is consistent with pre-set trading instructions, as the filer indicated a Rule 10b5-1 plan adopted January 9, 2025. The exercise of vested options at $161.50 and contemporaneous small sales at approximately $230–$237 appear intended to raise cash while maintaining long-term holdings. Reported direct and indirect holdings remain sizable, supporting continued alignment with shareholders.

Securities Analyst

TL;DR: Insignificant dilution; modest sales relative to large existing position.

The 2,250-share exercise and roughly 2,350 shares sold are immaterial relative to the reported combined beneficial ownership (over 21 million shares when combining direct, trust, and fund holdings). No new equity grants or material transfers beyond the option exercise and market sales are disclosed. Transactions were small and executed under an affirmative defense trading plan, reducing concerns of opportunistic timing.

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)
08/13/2025

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	08/13/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/13/2025		S(1)		127	D	$230.087(3)	11,913,694	D(2)
Common Stock	08/13/2025		S(1)		219	D	$231.3041(4)	11,913,475	D(2)
Common Stock	08/13/2025		S(1)		220	D	$232.8455(5)	11,913,255	D(2)
Common Stock	08/13/2025		S(1)		378	D	$234.1752(6)	11,912,877	D(2)
Common Stock	08/13/2025		S(1)		395	D	$235.2107(7)	11,912,482	D(2)
Common Stock	08/13/2025		S(1)		660	D	$236.2261(8)	11,911,822	D(2)
Common Stock	08/13/2025		S(1)		251	D	$237.0754(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	08/13/2025		M(1)			2,250	03/22/2020(11)	03/22/2026	Common Stock	2,250	$0	126,122	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 $229.8500 to $230.4600 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 $230.9800 to $231.7086 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 $232.2800 to $233.2738 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 $233.6179 to $234.6054 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 $234.7900 to $235.7779 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 $235.8100 to $236.7400 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 $236.8300 to $237.2800 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	08/14/2025
	** 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 the Form 4 for CRM?

He exercised 2,250 options at $161.50 and sold a series of shares (totaling 2,350) on 08/13/2025 under a Rule 10b5-1 plan.

How many Salesforce (CRM) shares does Marc Benioff beneficially own after these transactions?

Directly 11,913,821 shares, 107,000 shares held by trust, and 10,000,000 shares held through Marc Benioff Fund LLC per the filing.

Were the sales scheduled or discretionary for Marc Benioff's trades?

Scheduled under a Rule 10b5-1 trading plan adopted January 9, 2025, as indicated by the checked box and explanation.

What was the exercise price of the options exercised by Marc Benioff?

$161.50 per share for the 2,250 non-qualified stock options exercised on 08/13/2025.

Are the reported sale prices exact or averaged?

Weighted average prices are reported for grouped sales, with ranges for underlying trade prices provided in the filing.