CRM insider activity: Benioff sold 2,250 shares under 10b5‑1 after exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce (CRM), executed insider transactions on 10/06/2025. He exercised 2,250 non‑qualified stock options at an exercise price of $161.50 and reported multiple open‑market sales totaling 2,250 shares at weighted average prices ranging from $235.58 to $249.41. After these transactions, he beneficially owns 11,913,821 shares directly and an additional 10,000,000 shares held indirectly through the Marc Benioff Fund LLC, with 107,000 shares held by trust.
The sales were effected pursuant to a Rule 10b5‑1 trading plan adopted on 01/09/2025, as indicated on the form. The exercised options vesting schedule is disclosed and the option exercised had originally vested under a grant dated 03/22/2020, expiring 03/22/2026.
Positive
- Large retained ownership: still holds 11,913,821 shares directly and 10,000,000 shares indirectly via the Marc Benioff Fund LLC
- Planned transactions: sales were executed under a Rule 10b5‑1 trading plan adopted on 01/09/2025, indicating pre‑arranged timing
Negative
- Open‑market sales: 2,250 shares sold at weighted prices up to $249.41, representing near‑term insider liquidity
Insights
Insider exercised options and sold the equivalent amount under a 10b5‑1 plan; overall beneficial ownership remains large.
The reporting person exercised 2,250 options at $161.50 and sold 2,250 shares across several transactions priced between $235.58 and $249.41 on 10/06/2025.
These sales were made pursuant to a Rule 10b5‑1 plan adopted on 01/09/2025, which provides an affirmative defense for scheduled trades; the filings show direct ownership of 11,913,821 shares and indirect interests through a fund and trust. Monitor subsequent Form 4s for additional scheduled activity or material changes within the next 30–90 days.
Insider Trade Summary
Net Seller: 2,250 shares ($542,974)
Net Sell
14 txns
Insider
Benioff Marc
Role
Chair and CEO
Sold
2,250 shs ($543K)
| 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 | 63 | $235.7631 | $15K |
| Sale | Common Stock | 384 | $236.9638 | $91K |
| Sale | Common Stock | 610 | $238.1687 | $145K |
| Sale | Common Stock | 245 | $238.9974 | $59K |
| Sale | Common Stock | 64 | $239.9508 | $15K |
| Sale | Common Stock | 21 | $240.9521 | $5K |
| Sale | Common Stock | 17 | $243.0367 | $4K |
| Sale | Common Stock | 551 | $246.0241 | $136K |
| Sale | Common Stock | 221 | $247.6724 | $55K |
| Sale | Common Stock | 74 | $249.2673 | $18K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-qualified Stock Option (Right to Buy) — 42,872 shares (Direct);
Common Stock — 11,913,821 shares (Direct);
Common Stock — 107,000 shares (Indirect, By Trust)
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 $235.5800 to $236.1686 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 $236.6300 to $237.3800 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 $237.6900 to $238.5800 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 $238.7492 to $239.4200 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 $239.7600 to $240.3177 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 $245.6269 to $246.5500 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $247.2943 to $248.2119 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 $249.1346 to $249.4102 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.
FAQ
What did Marc Benioff report on the Form 4 for Salesforce (CRM)?
He reported exercising 2,250 options at $161.50 and selling 2,250 shares on 10/06/2025.
Were the sales part of a prearranged plan in the CRM Form 4?
Yes. The transactions were effected pursuant to a Rule 10b5‑1 trading plan adopted on 01/09/2025.
What were the sale price ranges reported on the Form 4?
Sales occurred in multiple transactions with prices reported in ranges from $235.58 up to $249.41.
When do the exercised options expire?
The option referenced vests per the disclosed schedule and expires on 03/22/2026.