[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce, filed a Form 4 reporting transactions on 09/24/2025 executed under a Rule 10b5-1 plan adopted January 9, 2025. The filing shows he exercised a non-qualified stock option to acquire 2,250 shares at an exercise price of $161.50 and sold an aggregate 2,250 shares in multiple transactions at weighted-average prices falling within $243.74–$248.39 ranges. Following these transactions, the filing reports 11,911,571 shares beneficially owned directly and 10,107,000 shares beneficially owned indirectly (107,000 by trust; 10,000,000 by Marc Benioff Fund LLC). The option exercised vests over a four-year schedule beginning March 22, 2020, and the option exercised had zero cash cost reported upon exercise in this filing.

Positive

• Option exercise disclosed: Acquisition of 2,250 shares via exercise at $161.50 is clearly reported
• Rule 10b5-1 plan used: Transactions were effected under a pre-established trading plan adopted January 9, 2025, which clarifies timing

Negative

• Insider sales: Aggregate disposition of 2,250 shares on 09/24/2025 at weighted-average prices within $243.74–$248.39 ranges
• Net direct beneficial ownership changed: Reported direct holdings after transactions are 11,911,571 shares (reflecting the reported disposals)

Insights

Securities Analyst

TL;DR: CEO exercised options and sold an equal number of shares under a 10b5-1 plan; substantial indirect holdings remain.

The filing documents a routine insider option exercise of 2,250 shares at $161.50 and subsequent sale of 2,250 shares across multiple trades at weighted-average prices within $243.74–$248.39 ranges. Transactions were effected under a pre-established Rule 10b5-1 trading plan, reducing interpretation ambiguity about timing. Reported direct beneficial ownership after the transactions is 11,911,571 shares, with significant indirect holdings of 10,107,000 shares held via trust and Marc Benioff Fund LLC. For investors, these are factual ownership and liquidity actions rather than operational or financial disclosures affecting company fundamentals.

Corporate Governance Expert

TL;DR: Transactions appear procedurally compliant; exercised options and sales were disclosed and attributed to a 10b5-1 plan.

The Form 4 indicates the reporting person relied on a Rule 10b5-1 plan adopted January 9, 2025, for automatic execution. The reporting includes required disclosures about multiple sale price ranges and undertakes to provide granular sale pricing if requested. The filing identifies both direct and indirect ownership vehicles (revocable trust and Fund LLC), which is standard for senior executives. No new executive departures, governance changes, or material noncompliance are reported in this form.

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).

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)
09/24/2025

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	09/24/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	09/24/2025		S(1)		270	D	$244.3377(3)	11,913,551	D(2)
Common Stock	09/24/2025		S(1)		876	D	$245.2442(4)	11,912,675	D(2)
Common Stock	09/24/2025		S(1)		654	D	$246.0459(5)	11,912,021	D(2)
Common Stock	09/24/2025		S(1)		270	D	$247.2667(6)	11,911,751	D(2)
Common Stock	09/24/2025		S(1)		180	D	$248.2325(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	09/24/2025		M(1)			2,250	03/22/2020(9)	03/22/2026	Common Stock	2,250	$0	60,872	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 $243.7400 to $244.6300 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 $244.7800 to $245.7711 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 $245.8100 to $246.4900 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 $247.0600 to $247.7000 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 $248.0900 to $248.3900 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	09/25/2025
	** 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 Salesforce (CRM)?

The Form 4 reports the exercise of a non-qualified stock option to acquire 2,250 shares at $161.50 and the sale of an aggregate 2,250 shares on 09/24/2025 under a Rule 10b5-1 plan.

Were the sales executed under a trading plan?

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

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

The filing reports 11,911,571 shares beneficially owned directly and 10,107,000 shares beneficially owned indirectly (107,000 by trust; 10,000,000 by Marc Benioff Fund LLC).

At what prices were the sold shares transacted?

The sold shares were transacted in multiple trades with weighted-average prices reported in ranges between $243.74 and $248.39; specific per-trade quantities and exact prices are available upon request as noted in the filing.

What was the exercise schedule for the option reported?

The option vests over four years with 25% vesting on March 22, 2020 and the remainder vesting in equal monthly installments over the following 36 months, per the filing.