Salesforce CEO Benioff Executes Option, Completes Matched Share Sales on 08/27/2025
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce (CRM), reported transactions on Form 4 showing an option exercise and offsetting sales executed under a Rule 10b5-1 plan. On 08/27/2025 Mr. Benioff exercised a non-qualified stock option to acquire 2,250 shares at an exercise price of $161.50 per share. The same day he sold a total of 2,250 shares in multiple transactions at weighted-average prices ranging approximately from $246.00 to $250.22 per share.
Following these transactions the filing reports Mr. Benioff beneficially owns 11,911,571 shares directly, 107,000 shares indirectly by trust, and 10,000,000 shares indirectly through the Marc Benioff Fund LLC. The transactions were made pursuant to a 10b5-1 trading plan adopted January 9, 2025.
Positive
- Transactions executed pursuant to a Rule 10b5-1 plan, indicating pre-established trading parameters
- Option exercise of 2,250 shares at $161.50, increasing owned shares before sales
- Significant reported beneficial ownership: 11,911,571 shares direct plus indirect holdings (107,000 trust; 10,000,000 Fund LLC)
Negative
- Disposition of 2,250 shares through multiple sales at weighted-average prices between approximately $246.00 and $250.22
- Insider sales on same date as option exercise could be viewed as realization of gains (documented sales reduce direct holdings by the reported amount)
Insights
TL;DR: Exercise of options funded and simultaneous sales executed under a pre-established 10b5-1 plan; ownership remains substantial.
The filing documents a routine exercise of a non-qualified stock option for 2,250 shares at $161.50 and contemporaneous sales of 2,250 shares at weighted-average prices in the $246–$250 range, all effected under a Rule 10b5-1 plan. This pattern is consistent with liquidity or tax planning using a pre-approved trading arrangement and maintains transparency through Form 4 disclosure. The reported post-transaction beneficial ownership remains significant with direct and indirect holdings reported separately.
TL;DR: Net effect: option exercise funded by matched share sales executed under a 10b5-1 plan; no new material change to disclosed holdings.
The reported exercise and matched disposals total 2,250 shares each, indicating a one-for-one conversion and sale on the same date. Prices sold are disclosed as weighted averages across multiple trades with ranges provided. The filing explicitly attributes certain shares to a revocable trust and a separate LLC vehicle, clarifying the form of indirect ownership. No additional transactions, loans, or other derivative activity beyond the single option exercise and sales are reported.
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 | 184 | $246.4653 | $45K |
| Sale | Common Stock | 686 | $247.5147 | $170K |
| Sale | Common Stock | 341 | $248.4989 | $85K |
| Sale | Common Stock | 901 | $249.5513 | $225K |
| Sale | Common Stock | 138 | $250.1805 | $35K |
| 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 $246.0000 to $246.8934 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 $247.0200 to $247.9900 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 $248.0710 to $248.8400 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 $249.0700 to $250.0471 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 $250.1018 to $250.2200 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.
