Salesforce CEO Benioff Executes 10b5-1 Trades, Retains Large Stake
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce (CRM), reported Form 4 transactions dated 08/14/2025. The filing shows an automatic transaction under a Rule 10b5-1 trading plan adopted January 9, 2025. It records acquisition of 2,250 shares via grant/exercise linked to a $161.50 exercise price and multiple small cash sales totaling 2,250 shares at weighted average prices from $232.93 to $236.00. After these transactions the reporting person held 11,911,571 shares directly and reported indirect holdings of 107,000 (by trust) and 10,000,000 (by Marc Benioff Fund LLC).
Positive
- Transactions executed under a Rule 10b5-1 trading plan, indicating pre-planned activity
- Continues to hold substantial direct ownership of 11,911,571 shares
- Full disclosure of indirect holdings: 107,000 shares by trust and 10,000,000 by Marc Benioff Fund LLC
Negative
- Sales of 2,250 shares in multiple transactions (weighted average prices ranging from $232.93 to $236.00)
- Some dilution of direct holdings relative to pre-transaction totals (reflected by reported disposals)
Insights
TL;DR: Routine insider activity executed under a 10b5-1 plan; modest option exercise and small-scale share sales, with substantial retained ownership.
The filing documents that transactions were effected under a Rule 10b5-1 plan, which provides an affirmative defense for pre-planned trades. The reporting person acquired 2,250 shares tied to a non-qualified option with a $161.50 exercise price and executed multiple small open-market sales totaling 2,250 shares across price ranges shown. Post-transaction holdings remain materially large with 11,911,571 shares held directly and significant indirect holdings via trust and a fund. For investors, this appears to be planned liquidity rather than ad-hoc divestiture.
TL;DR: Disclosure aligns with Section 16 requirements; shows use of pre-established trading plan and transparent price ranges for sales.
The Form 4 clearly indicates trading under a 10b5-1 plan adopted January 9, 2025, and provides weighted average price ranges for multiple sale tranches. The filer discloses direct and indirect ownership paths (personal name, revocable trust, and Marc Benioff Fund LLC), meeting standard disclosure practices. The document includes an attorney-in-fact signature and explanations of vesting schedules for options, satisfying reporting detail expectations.
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 | 1,017 | $233.6145 | $238K |
| Sale | Common Stock | 916 | $234.3648 | $215K |
| Sale | Common Stock | 276 | $235.3171 | $65K |
| Sale | Common Stock | 41 | $235.9866 | $10K |
| 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 $232.9300 to $233.9157 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 $233.9447 to $234.9279 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 $234.9523 to $235.8900 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 $235.9700 to $236.0000 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.
