[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Oscar Muñoz, a director of Salesforce, Inc. (CRM), received 274 shares through vesting of restricted stock units on 08/22/2025. The transaction is reported on a Form 4 filed by one reporting person and shows 274 shares beneficially owned following the transaction in a direct ownership form. The filing explains the RSUs convert one-for-one to common stock and that these units vest quarterly with specific vesting dates in 2025.

Positive

• Transparent disclosure of insider activity with full Form 4 details
• Routine compensation vesting consistent with established RSU schedule
• Direct ownership recorded, clarifying beneficial ownership after vesting

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received routine RSU vesting of 274 shares; immaterial to company capital structure.

The Form 4 documents a standard vesting event for a Salesforce director, converting restricted stock units to common shares on a one-for-one basis. The number of shares (274) is small relative to Salesforce's outstanding shares, indicating no meaningful dilution or governance shift. This is a routine insider disclosure consistent with compensation vesting schedules and is not indicative of a change in corporate control or material ownership.

Securities Analyst

TL;DR: Transaction is a non-derivative, routine acquisition from RSU vesting; limited investor impact.

The report shows a transaction code 'M' signifying the conversion or settlement of derivative awards into common stock. The filing includes explicit vesting dates and confirms direct ownership after the transaction. There are no sales, no price paid reported beyond $0 for the RSU settlement, and no additional derivative holdings disclosed, supporting a conclusion of neutral market impact.

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
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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).

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^*

MUNOZ OSCAR

(Last) (First) (Middle)

BOX 66100 HDQLD

(Street)

CHICAGO IL 60606

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		M		274	A	$0	12,391	D

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
Restricted Stock Units	$0(1)	08/22/2025		M			274	02/22/2025(2)	11/22/2025	Common Stock	274	$0	274	D

Explanation of Responses:

1. Restricted Stock Units convert to shares of common stock on a one-for-one basis.

2. These restricted stock units vest as to 25% of the original grant on each of February 22, 2025, May 22, 2025, August 22, 2025, and November 22, 2025.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Sarah Dale, Attorney-in-Fact for Oscar Munoz	08/25/2025
	** 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 did Oscar Muñoz report on the Salesforce (CRM) Form 4?

He reported the vesting and conversion of 274 restricted stock units into 274 shares of common stock on 08/22/2025.

How many shares did the director own after the transaction?

274 shares of common stock were reported as beneficially owned following the transaction.

What is the transaction code and what does it mean?

The transaction code is 'M', indicating a conversion or settlement of a derivative (RSUs) into common stock.

When did the RSUs vest according to the filing?

The filing lists vesting dates including 02/22/2025, 05/22/2025, 08/22/2025, and 11/22/2025 for quarterly vesting in 2025.

Was any cash paid for the shares in this transaction?

No cash was reported; the price is shown as $0 reflecting RSU settlement.