Salesforce CEO Exercises Options and Sells 2,250 CRM Shares Under 10b5-1
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
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.
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.
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 | 395 | $232.3378 | $92K |
| Sale | Common Stock | 185 | $233.4362 | $43K |
| Sale | Common Stock | 195 | $234.6469 | $46K |
| Sale | Common Stock | 225 | $235.439 | $53K |
| Sale | Common Stock | 263 | $236.9781 | $62K |
| Sale | Common Stock | 274 | $237.8182 | $65K |
| Sale | Common Stock | 416 | $238.8316 | $99K |
| Sale | Common Stock | 149 | $240.196 | $36K |
| Sale | Common Stock | 148 | $241.201 | $36K |
| 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 $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. 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. 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. 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. 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. 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. 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. 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. 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. 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.
