Salesforce CEO Executes 10b5-1 Plan: 2,250 Shares Sold, Holdings Remain Large
Rhea-AI Filing Summary
Marc Benioff, Chair and CEO of Salesforce, executed transactions on 09/08/2025 under a Rule 10b5-1 trading plan adopted January 9, 2025. He exercised a non-qualified stock option to buy 2,250 shares at a $161.50 exercise price and simultaneously sold those 2,250 shares in multiple trades at weighted average prices ranging from $247.71 to $251.5627 depending on lots; the form reports specific weighted average sale price bands for groups of shares.
Following these transactions, Benioff directly beneficially owned 11,911,571 shares, with an additional 107,000 shares held by trust and 10,000,000 shares held indirectly by the Marc Benioff Fund LLC. He holds 87,872 options exercisable that underlie common stock. Transactions were reported by attorney-in-fact and signed on 09/09/2025.
Positive
- Transactions were executed under a Rule 10b5-1 trading plan adopted on January 9, 2025, as disclosed on the form
- Complete disclosure of holdings: direct ownership of 11,911,571 shares plus 107,000 in trust and 10,000,000 in Marc Benioff Fund LLC is reported
- Option vesting schedule provided (vesting began March 22, 2020; vesting details described)
Negative
- Disposition of 2,250 shares occurred on 09/08/2025, reducing direct holdings by that amount
- Sales occurred across multiple price bands, requiring weighted-average disclosures rather than single-price disclosure (ranges provided)
Insights
TL;DR: CEO exercised options and sold 2,250 shares under a pre-existing 10b5-1 plan; substantial holdings remain both directly and indirectly.
These transactions are routine insider activity: exercise of a small option lot and immediate disposition of the resulting shares was executed pursuant to a Rule 10b5-1 plan adopted on January 9, 2025, suggesting pre-planned timing rather than opportunistic trading. The sales totaled 2,250 shares across multiple price ranges, and the reporting shows significant remaining ownership: 11.9 million direct shares plus 10.1 million indirect/trust-held shares, and 87,872 options outstanding. For investors, the activity reduces a negligible portion of the CEO's overall stake and retains the substantial economic exposure documented on the form.
TL;DR: Insider trades were executed under a documented trading plan; disclosure is complete with option vesting details and indirect holdings identified.
The Form 4 discloses the 10b5-1 plan checkbox and provides explanations for weighted-average sale prices and holding vehicles, including trust and Marc Benioff Fund LLC. The option vesting schedule is included for transparency. From a governance perspective, the filing follows required disclosure conventions and identifies indirect ownership, which aids clarity on beneficial ownership concentration.
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 | 42 | $247.71 | $10K |
| Sale | Common Stock | 91 | $249.1488 | $23K |
| Sale | Common Stock | 701 | $250.6718 | $176K |
| Sale | Common Stock | 1,416 | $251.5627 | $356K |
| 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 $248.7294 to $249.3532 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 $250.0469 to $251.0434 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 $251.0484 to $251.9891 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.
