[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce, Inc. (CRM), reported transactions on 10/03/2025 showing the exercise of 2,250 stock options at an exercise price of $161.5 and contemporaneous sales of 2,250 common shares in multiple trades at weighted average prices ranging roughly from $238.75 to $242.51. After these transactions, the filing shows 11,911,571 shares directly owned and additional indirect holdings of 107,000 shares via trust and 10,000,000 shares held by the Marc Benioff Fund LLC.

The filing notes the trades were executed under a Rule 10b5-1 trading plan adopted on 01/09/2025, and the option exercised vests over four years with an initial 25% vesting on 03/22/2020. The transactions were signed by an attorney-in-fact on 10/06/2025.

Positive

• Trades executed under a Rule 10b5-1 plan adopted on 01/09/2025, indicating pre-planned compliance with insider-trading rules>
• Substantial retained ownership: ~11.9M direct shares plus 10,107,000 indirect shares (107,000 trust + 10,000,000 Fund), showing continued long-term stake

Negative

• Sold 2,250 shares on 10/03/2025 at weighted average prices between $238.75 and $242.51, modestly reducing direct holdings>

Insights

Corporate Governance Expert

Insider sold shares under a pre-established plan while retaining substantial ownership.

The CEO exercised 2,250 options at $161.5 and sold an equal number of shares at weighted average prices between $238.75 and $242.51, consistent with a Rule 10b5-1 plan adopted on 01/09/2025. Using a 10b5-1 plan typically insulates scheduled trades from questions about contemporaneous access to nonpublic information, which supports procedural compliance.

Key dependencies include the continued adherence to the plan’s terms and no later amendments; monitor for future Form 4s in the coming weeks for additional plan-based trades or disclosures that could change the pattern.

Equity Compensation Specialist

Exercise and sale were tax-liquidity managing actions that did not materially change ultimate ownership.

The filing shows an option exercise (2,250 shares exercisable through 03/22/2026) and simultaneous sales totaling 2,250 shares, leaving the reporting person with about 11.9M direct shares plus 10.1M indirect holdings. The option’s original vesting schedule began with 25% on 03/22/2020, with monthly vesting thereafter, indicating routine compensation mechanics.

Watch for any large-scale exercises or systematic sales in subsequent filings that would meaningfully alter the >20M-share aggregate exposure implied by combined direct and indirect holdings within a 12-month window.

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)
10/03/2025

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	10/03/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	10/03/2025		S(1)		238	D	$239.3851(3)	11,913,583	D(2)
Common Stock	10/03/2025		S(1)		922	D	$240.2721(4)	11,912,661	D(2)
Common Stock	10/03/2025		S(1)		851	D	$241.2997(5)	11,911,810	D(2)
Common Stock	10/03/2025		S(1)		239	D	$242.1285(6)	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	10/03/2025		M(1)			2,250	03/22/2020(8)	03/22/2026	Common Stock	2,250	$0	45,122	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 $238.7500 to $239.7334 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 $239.8377 to $240.8300 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 $240.8600 to $241.8500 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 $241.8600 to $242.5100 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	10/06/2025
	** 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 in the Form 4 for CRM on 10/03/2025?

The Form 4 reports exercise of 2,250 options at $161.5 and sales of 2,250 common shares on 10/03/2025, executed under a Rule 10b5-1 plan.

Were Marc Benioff’s trades made under a trading plan?

Yes. The filing states the transactions were made pursuant to a Rule 10b5-1 trading plan adopted on 01/09/2025.

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

The filing shows 11,911,571 direct shares plus indirect holdings of 107,000 (trust) and 10,000,000 (Marc Benioff Fund LLC).

At what prices were the shares sold?

Sales occurred in multiple trades with weighted average prices reported across ranges from approximately $238.75 to $242.51.

What is the vesting schedule referenced for the option exercised?

The option vests over four years with 25% vesting on 03/22/2020 and the balance vesting in equal monthly installments over the following 36 months.