CRM: Benioff sells 2,250 shares under 10b5‑1 after exercising options
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce, Inc. (CRM), exercised 2,250 non‑qualified stock options at an exercise price of $161.50 on 10/01/2025 and simultaneously sold 2,250 shares in multiple transactions on the same date at weighted average prices that fall within ranges reported in the filing. After these transactions the reporting person directly beneficially owned approximately 11.91 million shares and indirectly held an additional 10.107 million shares via trust and the Marc Benioff Fund LLC.
The filing notes the trades were effected automatically under a Rule 10b5‑1 trading plan adopted on 01/09/2025. The option exercised vests over a four‑year schedule with the grant date of 03/22/2020 and the option expires on 03/22/2026. The Form 4 is signed by an attorney‑in‑fact on behalf of Mr. Benioff.
Positive
- 2,250 options exercised at $161.50, converting to common stock
- Trades were effected under a Rule 10b5‑1 trading plan adopted on 01/09/2025
- Reporting person retains substantial holdings: roughly 11.91M direct plus 10.107M indirect shares
Negative
- Reported sale of 2,250 shares by the CEO on 10/01/2025, which may be perceived as insider selling
Insights
Insider executed an option exercise and matched sales under a 10b5‑1 plan.
The filing shows an exercise of 2,250 options at $161.50 and concurrent sale of 2,250 shares on 10/01/2025. This pattern is consistent with liquidity actions executed under a predetermined trading plan rather than ad‑hoc sales.
Because the report discloses continued indirect holdings via trusts and the Marc Benioff Fund LLC totaling over 10 million shares, the exercise and sales did not materially reduce the reporting person’s overall economic exposure as disclosed.
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 | 553 | $234.1952 | $130K |
| Sale | Common Stock | 517 | $235.0092 | $121K |
| Sale | Common Stock | 504 | $236.144 | $119K |
| Sale | Common Stock | 176 | $236.9734 | $42K |
| Sale | Common Stock | 97 | $238.4856 | $23K |
| Sale | Common Stock | 279 | $240.3524 | $67K |
| Sale | Common Stock | 124 | $241.4073 | $30K |
| 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 $233.7018 to $234.6900 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $234.7000 to $235.6900 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $235.7000 to $236.6521 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 $236.7300 to $237.3300 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 $238.3106 to $238.6643 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 $239.9326 to $240.6931 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 $241.2801 to $241.6793 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.
