[Form 4] Salesforce, Inc. Insider Trading Activity

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

Securities Analyst

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.

Corporate Governance Expert

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.

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)
08/12/2025

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	08/12/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/12/2025		S(1)		75	D	$227.6(3)	11,913,746	D(2)
Common Stock	08/12/2025		S(1)		167	D	$228.6867(4)	11,913,579	D(2)
Common Stock	08/12/2025		S(1)		193	D	$229.9706(5)	11,913,386	D(2)
Common Stock	08/12/2025		S(1)		209	D	$231.125(6)	11,913,177	D(2)
Common Stock	08/12/2025		S(1)		953	D	$231.9479(7)	11,912,224	D(2)
Common Stock	08/12/2025		S(1)		653	D	$232.9755(8)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(9)	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	08/12/2025		M(1)			2,250	03/22/2020(10)	03/22/2026	Common Stock	2,250	$0	128,372	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 $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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

10. 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	08/13/2025
	** 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 transactions did Marc Benioff report on the Form 4 for CRM?

The filing reports an exercise of 2,250 non-qualified stock options at $161.50 and the sale of 2,250 common shares in multiple transactions on 08/12/2025 under a 10b5-1 plan.

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

Following the reported transactions the filing shows 11,911,571 shares held directly by the reporting person.

Were the trades made under a 10b5-1 trading plan for CRM insider activity?

Yes. The Form 4 states the transactions were effected automatically pursuant to a Rule 10b5-1 trading plan adopted on January 9, 2025.

What were the sale price ranges reported for the shares sold by Benioff (CRM)?

Sales were executed in groups with weighted-average price ranges reported across tranches from approximately $227.28 up to $233.44.

How many options and other holdings does Benioff hold after the exercise (CRM)?

The report lists 128,372 derivative securities (options) beneficially owned following the reported transactions, plus indirect holdings of 10,000,000 shares in the Marc Benioff Fund LLC and 107,000 shares by trust.