[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce, Inc. (CRM), reported multiple transactions on 09/25/2025 under a Form 4. The filings show the automatic exercise of 2,250 non-qualified stock options with an exercise price of $161.50, resulting in acquisition of 2,250 common shares. Following the reported transactions, the reporting person beneficially owned 11,913,821 common shares directly or indirectly, including 107,000 shares held in trust and 10,000,000 shares held by the Marc Benioff Fund LLC.

On the same date, the report discloses several sales totaling 2,250 shares sold across multiple transactions at weighted-average prices ranging from about $239.78 to $244.50 (detailed ranges provided for different sell groups). The transactions were effected automatically pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025. The Form 4 was signed by Andrew Leeds as attorney-in-fact on 09/26/2025.

Insights

Securities Analyst

TL;DR: Routine insider option exercise and programmed sales under a 10b5-1 plan; no new compensation grants or unusual disclosures.

The filing documents an automatic exercise of 2,250 non-qualified options at a $161.50 exercise price and contemporaneous sales of 2,250 common shares in multiple tranches at weighted-average prices between approximately $239.78 and $244.50. Ownership schedules show 11,913,821 total beneficially owned shares, including positions held in trust and by the Marc Benioff Fund LLC. Transactions were executed under a Rule 10b5-1 plan adopted January 9, 2025, and reported by attorney-in-fact. This filing is procedural and informational for investors tracking insider activity.

Corporate Governance Expert

TL;DR: Disclosure aligns with compliance norms: 10b5-1 plan use and exercise/sale reporting are properly documented.

The Form 4 discloses both option exercise and multiple share sales on the same date, with clear explanations of pricing ranges and the existence of a 10b5-1 trading plan adopted January 9, 2025. Beneficial ownership details identify direct and indirect holdings, including trust and LLC positions. The filing includes the attorney-in-fact signature, meeting filing formalities. No additional governance events or amendments are reported.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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)
09/25/2025

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	09/25/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	09/25/2025		S(1)		931	D	$240.3364(3)	11,912,890	D(2)
Common Stock	09/25/2025		S(1)		370	D	$241.3977(4)	11,912,520	D(2)
Common Stock	09/25/2025		S(1)		575	D	$242.2245(5)	11,911,945	D(2)
Common Stock	09/25/2025		S(1)		178	D	$243.0281(6)	11,911,767	D(2)
Common Stock	09/25/2025		S(1)		196	D	$244.2012(7)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(8)	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	09/25/2025		M(1)			2,250	03/22/2020(9)	03/22/2026	Common Stock	2,250	$0	58,622	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 $239.7800 to $240.7739 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 $240.8000 to $241.7900 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 $241.8000 to $242.7248 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 $242.8800 to $243.1942 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. Weighted average price. These shares were sold in multiple transactions at prices ranging from $244.0200 to $244.5000 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.

8. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

9. 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	09/26/2025
	** 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 transactions did Marc Benioff report on Form 4 for CRM on 09/25/2025?

The Form 4 reports the exercise of 2,250 non-qualified stock options at a $161.50 exercise price and the sale of 2,250 common shares in multiple transactions on 09/25/2025.

Was the trading activity by Marc Benioff tied to a Rule 10b5-1 plan?

Yes. The filing states the transactions were effected automatically pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025.

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

Following the reported transactions, the filing shows 11,913,821 common shares beneficially owned, including 107,000 shares held in trust and 10,000,000 shares held by the Marc Benioff Fund LLC.

What price range did the reported share sales occur at?

The sales occurred in multiple tranches with weighted-average prices and specified ranges across groups: approximately $239.78 to $240.77, $240.80 to $241.79, $241.80 to $242.72, $242.88 to $243.19, and $244.02 to $244.50.

Who signed the Form 4 for Marc Benioff and when?

The Form 4 was signed by /s/ Andrew Leeds, Attorney-in-Fact for Marc Benioff on 09/26/2025.