Salesforce CEO Benioff Executes 10b5-1 Trades: 2,250 Options Exercised, 2,250 Shares Sold
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce (CRM), reported matched option exercise and share sales executed under a Rule 10b5-1 plan. On 09/22/2025 he exercised 2,250 non-qualified stock options with an exercise price of $161.50 and concurrently sold 2,250 shares in multiple transactions at weighted-average prices ranging from $243.6876 to $250.4400. Following these transactions the filing shows 11,911,571 shares directly owned, 107,000 shares indirectly by trust, and 10,000,000 shares indirectly held by the Marc Benioff Fund LLC. The filing indicates the trades were effected automatically pursuant to a 10b5-1 plan adopted January 9, 2025.
Positive
- Transactions executed under a Rule 10b5-1 plan, indicating pre-scheduled trades and an affirmative defense to insider trading concerns
- Full disclosure of ownership including direct holdings, trust holdings (107,000 shares), and Fund holdings (10,000,000 shares)
Negative
- None.
Insights
TL;DR: Matched option exercise and sales executed under a 10b5-1 plan, showing compliance with an automated trading program.
The filing documents a routine Section 16 transaction by the company's CEO and Chair. The reporting person exercised 2,250 options at $161.50 and sold an equal number of shares in multiple tranches at weighted-average sale prices between approximately $243.69 and $250.44. The form explicitly states the transactions were made pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025, which is a standard mechanism for pre-scheduled insider trades to mitigate potential insider trading concerns. Ownership disclosures list both direct and indirect holdings, including 10,000,000 shares held by the Marc Benioff Fund LLC.
TL;DR: Transaction is neutral from the filing: option exercise funded by contemporaneous sales under a 10b5-1 plan; holdings disclosed.
The Form 4 shows an exercise of non-qualified options that resulted in acquisition of 2,250 shares and sales of 2,250 shares the same day, producing no net change in the reported number of direct shares. The sales occurred across several price points; weighted-average sale prices are provided for each tranche. The filing lists total reported direct ownership of 11,911,571 shares and indirect holdings via trust and fund. No additional compensatory or extraordinary transactions are disclosed.
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 | 129 | $244.0829 | $31K |
| Sale | Common Stock | 251 | $245.0798 | $62K |
| Sale | Common Stock | 186 | $246.5592 | $46K |
| Sale | Common Stock | 605 | $248.3157 | $150K |
| Sale | Common Stock | 695 | $249.3653 | $173K |
| Sale | Common Stock | 384 | $250.0957 | $96K |
| 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 $243.6876 to $244.4282 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 $244.7100 to $245.6400 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 $246.0600 to $246.9200 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 $247.7900 to $248.7600 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 $248.8427 to $249.7100 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 $249.9100 to $250.4400 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.
