Salesforce CEO Marc Benioff exercises and sells shares

Salesforce, Inc.'s Chair and CEO Marc Benioff exercised 2,250 non-qualified stock options on September 19, 2025 at a strike price of $161.50 per share, receiving an equal number of common shares.

Rhea-AI Filing Summary

Salesforce, Inc.'s Chair and CEO Marc Benioff exercised 2,250 non-qualified stock options on September 19, 2025 at a strike price of $161.50 per share, receiving an equal number of common shares. That same day he sold 2,250 Salesforce common shares in multiple transactions at weighted-average prices within ranges from $243.4885 to $247.1900, as detailed in price-range footnotes. After these transactions he held 11,911,571 shares directly, plus 107,000 shares held by a revocable trust and 10,000,000 shares held indirectly through Marc Benioff Fund LLC. A footnote states that one reported transaction was effected automatically under a Rule 10b5-1 trading plan adopted on January 9, 2025.

Insights

Corporate Governance Expert

TL;DR: Routine option exercise and coordinated share sales under a 10b5-1 plan; transparency maintained through disclosures.

The filing documents an option exercise and contemporaneous share sales executed pursuant to a pre-established Rule 10b5-1 trading plan, which is commonly used by executives to avoid impermissible insider trading. The report includes weighted-average sale prices across multiple trade lots and details of direct and indirect holdings, including trust and LLC ownership. For governance, the presence of a 10b5-1 plan and clear disclosure of indirect holdings enhances transparency, though investors may note insider selling volume relative to total holdings.

Securities Analyst

TL;DR: Option exercise at $161.50 followed by matched share sales at ~$243–$247; net share count remains large.

From a securities perspective, the exercise of 2,250 options at $161.50 created an immediate non-derivative position that was subsequently sold in multiple tranches at weighted-average prices between $243.49 and $247.19. The filing quantifies both direct and indirect beneficial ownership across trusts and an LLC, and the reporter offers to provide exact per-lot sale counts on request. This is a routine executive liquidity event documented under a 10b5-1 plan; it does not by itself disclose company performance metrics.

Insider Trade Summary

Exercise and Sale: 2,250 shares ($189K approx. pre-tax spread)

Exercise and Sale 8 txns

Insider Benioff Marc

Role Chair and CEO

Sold 2,250 shs ($553K)

Approx. gross sale proceeds $553K

Approx. exercise cost $363K

Approx. pre-tax spread $189K

Type	Security	Shares	Price	Value
Exercise	Non-qualified Stock Option (Right to Buy)	2,250	$0.00	$0.00
Exercise	Common Stock	2,250	$161.50	$363K
Sale	Common Stock	235	$243.8865	$57K
Sale	Common Stock	668	$245.2011	$164K
Sale	Common Stock	978	$246.0124	$241K
Sale	Common Stock	369	$246.8575	$91K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Non-qualified Stock Option (Right to Buy) — 67,622 contracts (Direct); Common Stock — 11,911,571 shares (Direct); Common Stock — 107,000 shares (Indirect, By Trust); Common Stock — 10,000,000 shares (Indirect, By Marc Benioff Fund LLC)

Footnotes (8)

1. F1. 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. F2. Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust.
3. F3. Weighted average price. These shares were sold in multiple transactions at prices ranging from $243.4885 to $244.3428 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. F4. Weighted average price. These shares were sold in multiple transactions at prices ranging from $244.4968 to $245.4863 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. F5. Weighted average price. These shares were sold in multiple transactions at prices ranging from $245.5071 to $246.4628 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. F6. Weighted average price. These shares were sold in multiple transactions at prices ranging from $246.7000 to $247.1900 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.
7. F7. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.
8. F8. 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.

Key Figures

Options exercised: 2,250 shares Exercise price: $161.5000 per share Shares sold: 2,250 shares +5 more

8 metrics

Options exercised 2,250 shares Non-qualified stock options exercised on September 19, 2025

Exercise price $161.5000 per share Strike price of options converted into Salesforce common stock

Shares sold 2,250 shares Total Salesforce common shares sold in reported transactions on September 19, 2025

Sale price ranges $243.4885–$247.1900 per share Price ranges for multiple sale transactions based on weighted-average footnotes

Direct holdings after transaction 11,911,571 shares Salesforce common stock held directly by Marc Benioff after the reported transactions

Trust holdings 107,000 shares Common stock held by a Marc R. Benioff Revocable Trust

Fund holdings 10,000,000 shares Common stock held indirectly through Marc Benioff Fund LLC

Option expiration date March 22, 2026 Expiration date of the non-qualified stock option that was exercised

Key Terms

Non-qualified Stock Option, Rule 10b5-1 trading plan, weighted average price, Revocable Trust, +1 more

5 terms

Non-qualified Stock Option financial

"security_title "Non-qualified Stock Option (Right to Buy)""

A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.

Rule 10b5-1 trading plan regulatory

"transaction was effected automatically pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"Weighted average price. These shares were sold in multiple transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Revocable Trust financial

"Shares held in the Marc R. Benioff Revocable Trust"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

Marc Benioff Fund LLC financial

"Shares held in the Marc Benioff Fund LLC (the "Fund")"

FAQ

What insider activity did Salesforce (CRM) CEO Marc Benioff report in this Form 4?

Marc Benioff reported exercising 2,250 stock options and selling 2,250 Salesforce common shares on September 19, 2025. The options had a $161.50 strike price, and the sales occurred at weighted-average prices between about $243.49 and $247.19.

At what price did Marc Benioff exercise his Salesforce (CRM) stock options?

He exercised 2,250 non-qualified stock options at an exercise price of $161.50 per share. These options converted into an equal number of Salesforce common shares before being sold in separate transactions disclosed in the same Form 4 filing.

How many Salesforce (CRM) shares did Marc Benioff sell and at what prices?

Marc Benioff sold a total of 2,250 Salesforce common shares on September 19, 2025. Footnotes state the weighted-average sale prices were based on ranges from $243.4885 to $247.1900 per share across multiple transaction buckets.

How many Salesforce (CRM) shares does Marc Benioff hold after these transactions?

After the reported transactions, Marc Benioff held 11,911,571 Salesforce common shares directly. Additional holdings include 107,000 shares held by a revocable trust and 10,000,000 shares held indirectly through Marc Benioff Fund LLC, as disclosed in the filing.

Was Marc Benioff’s Salesforce (CRM) trading done under a Rule 10b5-1 plan?

A footnote states that a reported transaction was effected automatically under a Rule 10b5-1 trading plan adopted on January 9, 2025. This indicates at least one transaction followed a pre-arranged plan rather than discretionary timing.

What are Marc Benioff’s indirect Salesforce (CRM) holdings mentioned in the Form 4?

The filing notes 107,000 shares held by a Marc R. Benioff Revocable Trust and 10,000,000 shares held by Marc Benioff Fund LLC. These positions are reported as indirect holdings associated with the reporting person as of September 19, 2025.

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Accepted by SEC EDGAR 09/22/2025 - 04:49 PM Learn about SEC filing dates

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)
09/19/2025

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	09/19/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	09/19/2025		S(1)		235	D	$243.8865(3)	11,913,586	D(2)
Common Stock	09/19/2025		S(1)		668	D	$245.2011(4)	11,912,918	D(2)
Common Stock	09/19/2025		S(1)		978	D	$246.0124(5)	11,911,940	D(2)
Common Stock	09/19/2025		S(1)		369	D	$246.8575(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	09/19/2025		M(1)			2,250	03/22/2020(8)	03/22/2026	Common Stock	2,250	$0	67,622	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 $243.4885 to $244.3428 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 $244.4968 to $245.4863 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 $245.5071 to $246.4628 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 $246.7000 to $247.1900 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.

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	09/22/2025
	** 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.
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