[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce (CRM), executed option exercises and share sales under a Rule 10b5-1 plan on 08/29/2025. He exercised 2,250 non-qualified stock options at an exercise price of $161.50, receiving 2,250 shares. Separately, he sold several blocks totaling 2,250 shares at weighted-average prices between $253.06 and $256.74, generating proceeds at market rates. After these transactions, Benioff beneficially owned 11,911,571 shares directly, 107,000 shares indirectly by trust, and 10,000,000 shares indirectly through Marc Benioff Fund LLC, indicating continued significant ownership.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating preplanned, compliant trading
• Significant retained ownership: over 21 million combined direct and indirect shares remain after transactions
• Option exercise consistent with long-term incentive structure (exercise price $161.50)

Negative

• Insider sold 2,250 shares, which is a reduction in direct holdings (though small relative to total ownership)

Insights

Financial Analyst

TL;DR: Insider exercised options and sold 2,250 shares under a pre-established 10b5-1 plan; substantial long-term holdings remain.

These transactions are routine for executives converting options and rebalancing holdings while preserving concentrated ownership. The exercise at $161.50 with concurrent market sales at $253–$256 suggests tax/liquidity motives rather than signaling a change in company outlook. Retained direct and indirect holdings exceed 21 million shares combined, maintaining strong alignment with shareholders.

Corporate Governance Expert

TL;DR: Sales were executed pursuant to a 10b5-1 plan, which provides an affirmative defense against insider trading claims.

Filing discloses the 10b5-1 adoption date (January 9, 2025), which supports procedural compliance. The Form 4 lists holdings held directly and through trust and fund entities, offering transparency about potential indirect influence. No departures, grants beyond the exercised option, or unusual derivative activity are disclosed.

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)
08/29/2025

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	08/29/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/29/2025		S(1)		229	D	$253.6699(3)	11,913,592	D(2)
Common Stock	08/29/2025		S(1)		806	D	$254.5619(4)	11,912,786	D(2)
Common Stock	08/29/2025		S(1)		334	D	$255.4353(5)	11,912,452	D(2)
Common Stock	08/29/2025		S(1)		852	D	$256.3166(6)	11,911,600	D(2)
Common Stock	08/29/2025		S(1)		29	D	$257.1904	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	08/29/2025		M(1)			2,250	03/22/2020(8)	03/22/2026	Common Stock	2,250	$0	99,122	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 $253.0601 to $254.0546 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 $254.0800 to $255.0602 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 $255.0759 to $255.9402 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 $256.1122 to $256.7357 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	09/02/2025
	** 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 did Marc Benioff file on Form 4 for CRM?

The Form 4 reports exercise of 2,250 non-qualified stock options at $161.50 and sales of 2,250 shares executed under a Rule 10b5-1 plan on 08/29/2025.

Were the Salesforce (CRM) trades preplanned or discretionary?

The filing indicates the trades were effected pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025, which is a pre-established plan.

How many CRM shares does Marc Benioff beneficially own after these transactions?

After the reported transactions, Benioff beneficially owned 11,911,571 shares directly, 107,000 shares by trust, and 10,000,000 shares via Marc Benioff Fund LLC.

What was the exercise price and market sale prices reported for the CRM transactions?

The option exercise price was $161.50; sales were reported at weighted-average prices in ranges approximately $253.06–$256.74.

Does the Form 4 show any other derivative grants or unusual activity for CRM?

The only derivative activity reported was the exercise of 2,250 non-qualified stock options; no new grants or complex derivatives were disclosed.