[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Salesforce, Inc. (CRM) – Form 4 filed 07/30/2025

Chair & CEO Marc Benioff exercised 2,250 non-qualified stock options at an exercise price of $161.50 and immediately sold the same 2,250 shares under a Rule 10b5-1 plan on 07/29/2025. Shares were sold in six tranches between $267.46-$273.51, generating roughly $0.6 million in gross proceeds. Post-transaction direct ownership is 11,911,571 shares, down only 0.02%; indirect holdings remain 107,000 shares in trust and 10,000,000 shares via Marc Benioff Fund LLC. The option exercise reduces his remaining option balance to 150,872. Given the minuscule percentage change and pre-scheduled nature, the filing appears routine and does not materially impact insider ownership or signal a strategic shift.

Insights

Securities Analyst

TL;DR: CEO sold 2,250 shares (~$0.6 m) via 10b5-1; negligible vs. 22 M+ total stake—neutral.

The trade represents ordinary liquidity management. Benioff’s direct stake exceeds 11.9 M shares and, combined with trust and fund holdings, surpasses 22 M shares. Disposition equals roughly 0.002 % of Salesforce’s ~1 B share float, offering no meaningful read-through on fundamentals or valuation. The simultaneous option exercise at $161.50 converts low-basis options set to expire in 2026, a standard practice as expiration approaches. Because the sale was executed under a pre-arranged 10b5-1 plan, the timing is not discretionary, further muting any signaling value. I rate the impact as neutral.

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)
07/29/2025

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	07/29/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	07/29/2025		S(1)		804	D	$267.8877(3)	11,913,017	D(2)
Common Stock	07/29/2025		S(1)		830	D	$268.9626(4)	11,912,187	D(2)
Common Stock	07/29/2025		S(1)		167	D	$269.7978(5)	11,912,020	D(2)
Common Stock	07/29/2025		S(1)		81	D	$271.3907(6)	11,911,939	D(2)
Common Stock	07/29/2025		S(1)		326	D	$272.5983(7)	11,911,613	D(2)
Common Stock	07/29/2025		S(1)		42	D	$273.51	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(8)	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	07/29/2025		M(1)			2,250	03/22/2020(9)	03/22/2026	Common Stock	2,250	$0	150,872	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 $267.4600 to $268.3877 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 $268.5800 to $269.5500 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 $269.5800 to $270.1200 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 $271.1000 to $271.6900 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 $272.2700 to $272.9200 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. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

9. 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/ Sarah Dale, Attorney-in-Fact for Marc Benioff	07/30/2025
	** 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.
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FAQ

How many Salesforce (CRM) shares did Marc Benioff sell on 07/29/2025?

He sold 2,250 common shares in six separate transactions.

At what prices were the CRM shares sold?

Weighted average sale prices ranged from $267.46 to $273.51 per share.

Was the transaction executed under a Rule 10b5-1 trading plan?

Yes. The filing states the trades were made automatically under a 10b5-1 plan adopted on 01/09/2025.

How many Salesforce shares does Marc Benioff own after the sale?

He owns 11,911,571 shares directly, plus 107,000 in a trust and 10,000,000 through Marc Benioff Fund LLC.

Did Marc Benioff exercise any stock options in this filing?

Yes, he exercised 2,250 non-qualified options at an exercise price of $161.50.

Does this insider sale materially affect Salesforce's insider ownership profile?

No. The sale reduced Benioff's direct stake by only 0.02%, an immaterial change.