[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce (CRM), reported on Form 4 that on 08/11/2025 he exercised 2,250 non-qualified stock options at an exercise price of $161.50 and simultaneously sold 2,250 shares in multiple transactions under a Rule 10b5-1 trading plan adopted on January 9, 2025.

The sales occurred in tranches with weighted-average prices shown per group and transaction price ranges from $231.9360 to $241.3877. After these transactions the filing reports direct beneficial ownership of 11,911,571 shares, plus 107,000 shares indirectly held by trust and 10,000,000 shares indirectly held by Marc Benioff Fund LLC. The Form discloses continued holdings of derivative securities following the reported transactions (130,622 reported).

Positive

• Trades executed under a Rule 10b5-1 plan, adopted 01/09/2025, indicating pre-arranged execution and reduced timing concerns
• Clear, tranche-level disclosure of weighted-average sale prices and price ranges for the sales
• Comprehensive reporting of post-transaction holdings, including direct ownership and indirect holdings via trust and Marc Benioff Fund LLC

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider exercised options and sold 2,250 CRM shares under a pre-established 10b5-1 plan; disclosure is complete and routine.

The filing documents an exercise of 2,250 options at $161.50 and contemporaneous sales of 2,250 shares across multiple tranches on 08/11/2025. All transactions were effected pursuant to a Rule 10b5-1 plan (adopted 01/09/2025), which limits timing concerns and indicates the trades were pre-arranged. The filing lists per-tranche weighted-average sale prices and reports post-transaction beneficial ownership levels, providing clear disclosure for market participants. From an analyst perspective, these are customary insider liquidity transactions with transparent reporting.

Corporate Governance Expert

TL;DR: Governance controls applied; 10b5-1 plan usage and granular transaction disclosure support compliance and transparency.

The report explicitly states the trades were executed under a 10b5-1 trading plan adopted on 01/09/2025, and the Form itemizes exercise details, tranche-level weighted-average sale prices, and resulting direct and indirect holdings. The filing includes signature by an attorney-in-fact and explanatory notes about trust and fund holdings, demonstrating adherence to disclosure obligations. This documentation aligns with best practices for pre-arranged executive trades and provides investors with the necessary factual record.

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)
08/11/2025

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	08/11/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/11/2025		S(1)		395	D	$232.3378(3)	11,913,426	D(2)
Common Stock	08/11/2025		S(1)		185	D	$233.4362(4)	11,913,241	D(2)
Common Stock	08/11/2025		S(1)		195	D	$234.6469(5)	11,913,046	D(2)
Common Stock	08/11/2025		S(1)		225	D	$235.439(6)	11,912,821	D(2)
Common Stock	08/11/2025		S(1)		263	D	$236.9781(7)	11,912,558	D(2)
Common Stock	08/11/2025		S(1)		274	D	$237.8182(8)	11,912,284	D(2)
Common Stock	08/11/2025		S(1)		416	D	$238.8316(9)	11,911,868	D(2)
Common Stock	08/11/2025		S(1)		149	D	$240.196(10)	11,911,719	D(2)
Common Stock	08/11/2025		S(1)		148	D	$241.201(11)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(12)	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	08/11/2025		M(1)			2,250	03/22/2020(13)	03/22/2026	Common Stock	2,250	$0	130,622	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 $231.9360 to $232.7584 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 $232.9777 to $233.9700 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 $234.0682 to $235.0578 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 $235.1232 to $236.0919 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 $236.4300 to $237.4175 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 $237.4497 to $238.1900 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $238.5200 to $239.3514 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.

10. Weighted average price. These shares were sold in multiple transactions at prices ranging from $239.7839 to $240.5928 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.

11. Weighted average price. These shares were sold in multiple transactions at prices ranging from $241.0449 to $241.3877 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.

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

13. 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	08/12/2025
	** 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 Form 4 for CRM?

On 08/11/2025 Benioff exercised 2,250 options at $161.50 and sold 2,250 shares in multiple tranches under a 10b5-1 plan.

Were the sales by Marc Benioff part of a trading plan?

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

What price range did Benioff's CRM sales occur at?

The reported transaction price ranges across tranches span from $231.9360 to $241.3877, with weighted-average prices shown per tranche.

How many CRM shares does Benioff beneficially own after the transactions?

The filing reports direct beneficial ownership of 11,911,571 shares, plus 107,000 held indirectly by trust and 10,000,000 held indirectly by Marc Benioff Fund LLC.

Does the Form 4 disclose derivative holdings?

Yes. The filing lists derivative securities and reports 130,622 derivative securities beneficially owned following the reported transactions.