Marc Benioff Sells 2,250 Salesforce Shares Under 10b5-1 Plan
Rhea-AI Filing Summary
Marc Benioff reported an 08/07/2025 transaction in which he exercised a non-qualified stock option for 2,250 Salesforce (CRM) shares at an exercise price of $161.50 and immediately sold the same 2,250 shares under a Rule 10b5-1 trading plan adopted on January 9, 2025. The sales were executed in multiple trades with prices disclosed across tranches and ranges from $237.2777 to $252.5229.
Following these transactions the filing shows Mr. Benioff beneficially owns 11,911,571 shares directly, plus 107,000 held by a trust and 10,000,000 held indirectly through Marc Benioff Fund LLC. The filing also reports 135,122 derivative securities beneficially owned after the reported transactions.
Positive
- Transaction executed under a Rule 10b5-1 trading plan adopted January 9, 2025, which clarifies intent and timing of trades.
- Detailed disclosure of exercise and sale terms including exercise price $161.50 and sale price ranges $237.2777–$252.5229, improving transparency.
Negative
- None.
Insights
TL;DR: Exercise and sale of 2,250 CRM shares is routine and immaterial given Benioff’s substantial direct and indirect holdings.
The Form 4 documents a same-day exercise and sale: 2,250 options exercised at $161.50 and 2,250 shares sold across multiple price tranches between $237.2777 and $252.5229 under a 10b5-1 plan. After the trades Benioff retains 11,911,571 direct shares and indirect holdings of 10,107,000 (107,000 trust + 10,000,000 LLC), plus 135,122 derivative securities. From a capital-structure perspective this transaction does not materially change his ownership percentage or the company’s outstanding shares.
TL;DR: The disclosure follows standard governance practice; use of a 10b5-1 plan and tranche-level pricing increases transparency.
The filing explicitly states the trades were effected pursuant to a Rule 10b5-1 trading plan adopted January 9, 2025, and provides tranche-level weighted-average prices and price ranges for the sales. That level of detail supports compliance and reduces potential insider-trading ambiguity. The transaction is fully reported on Form 4 with indirect holdings and option balances disclosed, meeting Form 4 transparency 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 | 92 | $237.8735 | $22K |
| Sale | Common Stock | 253 | $238.8495 | $60K |
| Sale | Common Stock | 455 | $239.9565 | $109K |
| Sale | Common Stock | 459 | $240.6922 | $110K |
| Sale | Common Stock | 70 | $241.9452 | $17K |
| Sale | Common Stock | 115 | $243.676 | $28K |
| Sale | Common Stock | 119 | $244.6797 | $29K |
| Sale | Common Stock | 151 | $245.991 | $37K |
| Sale | Common Stock | 90 | $247.4067 | $22K |
| Sale | Common Stock | 86 | $248.7282 | $21K |
| Sale | Common Stock | 77 | $249.8114 | $19K |
| Sale | Common Stock | 28 | $250.4091 | $7K |
| Sale | Common Stock | 224 | $251.894 | $56K |
| Sale | Common Stock | 31 | $252.7435 | $8K |
| 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 $237.2777 to $238.2539 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 $238.3722 to $239.2665 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 $239.3827 to $240.3577 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 $240.3951 to $241.0147 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 $241.6334 to $242.5267 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 $243.3128 to $244.2458 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 $244.3646 to $244.9500 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 $245.5950 to $246.4334 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 $247.0727 to $247.6148 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 $248.2368 to $249.0366 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 $249.3866 to $250.3192 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 $251.5600 to $252.5229 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.
