CRM Insider Filing: Benioff Uses 10b5-1 Plan to Exercise and Sell 2,250 Shares
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce (CRM), reported exercising 2,250 non-qualified stock options with an exercise price of $161.50 and concurrently selling 2,250 common shares in multiple transactions on 08/12/2025 under a Rule 10b5-1 trading plan adopted January 9, 2025. The sales were executed in several tranches with weighted-average prices reported in grouped ranges from about $227.28 up to $233.44.
Following these transactions the filing shows Mr. Benioff beneficially owns 11,911,571 shares directly, holds 128,372 options following the exercise, and reports indirect holdings of 107,000 shares by trust and 10,000,000 shares held by the Marc Benioff Fund LLC.
Positive
- Transactions executed under a Rule 10b5-1 plan, indicating pre-established trade instructions and regulatory compliance
- Substantial retained ownership: direct beneficial ownership of 11,911,571 shares after the transactions
- Large indirect holdings disclosed: 10,000,000 shares held by Marc Benioff Fund LLC and 107,000 shares by trust
Negative
- None.
Insights
TL;DR: Benioff exercised 2,250 options and sold 2,250 shares under a 10b5-1 plan; remaining direct holdings exceed 11.9 million shares.
This Form 4 discloses an option exercise at $161.50 for 2,250 shares and immediate sales of the same 2,250 shares across multiple transactions at weighted-average prices reported in grouped ranges from ~$227.28 to ~$233.44. The transactions were executed pursuant to a Rule 10b5-1 plan, which indicates pre-arranged timing rather than opportunistic insider trades. Material ownership remains concentrated: the report lists 11,911,571 direct shares and significant indirect holdings including 10,000,000 shares in the Marc Benioff Fund LLC.
TL;DR: Transaction appears routine and pre-planned under a 10b5-1 plan; substantial long-term ownership remains.
The filing explicitly notes the use of a Rule 10b5-1 trading plan adopted on January 9, 2025, for these trades. The option exercise and matched sales of 2,250 shares are documented with grouped weighted-average sale price ranges, and post-transaction holdings show continued large ownership stakes both directly and indirectly. From a governance perspective, the disclosure aligns with standard insider reporting practices and shows continued significant ownership by the CEO.
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 | 75 | $227.60 | $17K |
| Sale | Common Stock | 167 | $228.6867 | $38K |
| Sale | Common Stock | 193 | $229.9706 | $44K |
| Sale | Common Stock | 209 | $231.125 | $48K |
| Sale | Common Stock | 953 | $231.9479 | $221K |
| Sale | Common Stock | 653 | $232.9755 | $152K |
| 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 $227.2792 to $227.7581 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 $228.3200 to $229.1638 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 $229.3990 to $230.2300 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 $230.4670 to $231.4356 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 $231.4772 to $232.4666 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 $232.5000 to $233.4400 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.
