[Form 4] Salesforce, Inc. Insider Trading Activity

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

Corporate Governance Expert

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.

Securities Analyst

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.

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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
08/27/2025

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	08/27/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	08/27/2025		S(1)		184(3)	D	$246.4653	11,913,637	D(2)
Common Stock	08/27/2025		S(1)		686(4)	D	$247.5147	11,912,951	D(2)
Common Stock	08/27/2025		S(1)		341(5)	D	$248.4989	11,912,610	D(2)
Common Stock	08/27/2025		S(1)		901(6)	D	$249.5513	11,911,709	D(2)
Common Stock	08/27/2025		S(1)		138(7)	D	$250.1805	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	08/27/2025		M(1)			2,250	03/22/2020(9)	03/22/2026	Common Stock	2,250	$0	103,622	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 $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.

4. 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.

5. 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.

6. 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.

7. 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.

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	08/28/2025
	** 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.
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FAQ

What transactions did Marc Benioff report on Form 4 for CRM?

He exercised a non-qualified stock option for 2,250 shares at $161.50 and sold 2,250 shares the same day in multiple transactions.

Were the sales executed under a trading plan?

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

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

Reported beneficial ownership after the transactions: 11,911,571 shares direct, 107,000 shares by trust, and 10,000,000 shares via Marc Benioff Fund LLC.

What prices were the shares sold at?

Sales occurred in multiple trades with weighted-average prices and disclosed ranges: approximately $246.00–$246.8934, $247.0200–$247.9900, $248.0710–$248.8400, $249.0700–$250.0471, and $250.1018–$250.2200.

When did these transactions occur?

Transaction date: August 27, 2025; Form signed August 28, 2025 by attorney-in-fact.