[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marc Benioff, Chair and CEO of Salesforce, reported transactions in Salesforce common stock on 09/29/2025. He exercised 2,250 non-qualified stock options with an exercise price of $161.50 per share and simultaneously sold a total of 2,250 shares in multiple transactions at weighted-average prices ranging from $243.0713 to $245.6540 depending on the lot. Following these transactions, the reporting person directly beneficially owned 11,911,571–11,913,821 shares (forms show slight differences by line) and indirectly beneficially owned 10,107,000 shares via a revocable trust (107,000) and the Marc Benioff Fund LLC (10,000,000). The trades were made under a Rule 10b5-1 trading plan adopted on January 9, 2025.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-established trading and reducing likelihood of opportunistic insider timing.
• Full disclosure of indirect holdings, including 10,000,000 shares held by Marc Benioff Fund LLC and 107,000 shares held by trust.
• Form 4 provides weighted-average prices and offers per-lot details upon request, supporting transparency and regulatory compliance.

Negative

• Reported sales of common stock totaling 2,250 shares at weighted-average prices between $243.07 and $245.65, reflecting insider dispositions on 09/29/2025.
• Exercise of 2,250 options (non-qualified stock options) increases immediate share supply sold into market, though done under plan.

Insights

Securities Analyst

TL;DR: Routine option exercise and matched share sales under a pre-established 10b5-1 plan produced no clear net change to reported economic exposure.

The filing documents an option exercise of 2,250 shares at $161.50 and contemporaneous sales totaling 2,250 shares executed at weighted-average prices between $243.07 and $245.65. These transactions were effected pursuant to a Rule 10b5-1 plan, which typically indicates pre-planned disposition rather than opportunistic trading. The report also discloses substantial indirect holdings: 107,000 shares by trust and 10,000,000 shares held by Marc Benioff Fund LLC. For investors, the record confirms ongoing large insider ownership but reports routine liquidity activity, not a change in strategic ownership.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 requirements and notes use of a 10b5-1 plan; filings are complete for the reported transactions.

The Form 4 clearly identifies the reporting person as Chair and CEO and states the transactions were executed automatically under a Rule 10b5-1 plan adopted on January 9, 2025. The filing provides weighted-average sale prices and an undertaking to furnish detailed per-lot prices upon request, which supports compliance and transparency. Indirect ownership via trust and an LLC is disclosed, including the 10,000,000 shares held by Marc Benioff Fund LLC, satisfying instructions to report both direct and indirect beneficial ownership. No amendments or additional corrective disclosures are indicated.

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).

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)
09/29/2025

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	09/29/2025		M(1)		2,250	A	$161.5	11,913,821	D(2)
Common Stock	09/29/2025		S(1)		708	D	$243.4925(3)	11,913,113	D(2)
Common Stock	09/29/2025		S(1)		932	D	$244.739(4)	11,912,181	D(2)
Common Stock	09/29/2025		S(1)		610	D	$245.3996(5)	11,911,571	D(2)
Common Stock								107,000	I	By Trust
Common Stock								10,000,000	I(6)	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	09/29/2025		M(1)			2,250	03/22/2020(7)	03/22/2026	Common Stock	2,250	$0	54,122	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 $243.0713 to $243.8504 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 $244.0964 to $245.0886 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 $245.0982 to $245.6540 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. Shares held in the Marc Benioff Fund LLC (the "Fund"). Fund interests are held in the reporting person's name or in trust.

7. 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	09/30/2025
	** 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 transactions did Marc Benioff report on the Form 4 for CRM?

The Form 4 reports exercise of 2,250 non-qualified stock options at $161.50 per share on 09/29/2025 and sales of 2,250 common shares on the same date at weighted-average prices between $243.0713 and $245.6540.

Were these trades pre-planned under a trading plan?

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

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

The Form 4 shows direct beneficial ownership figures around 11,911,571 to 11,913,821 shares and indirect beneficial ownership of 10,107,000 shares (composed of 107,000 by trust and 10,000,000 by Marc Benioff Fund LLC).

What prices were the shares sold at in these transactions?

Sales occurred in multiple transactions with weighted-average prices reported across ranges: $243.0713–$243.8504, $244.0964–$245.0886, and $245.0982–$245.6540, with overall weighted averages noted in the filing.

Does the filing indicate any amendments or corrections?

No amendment date is provided in the Form 4; the field for an amendment date is blank, indicating this filing is presented as originally reported.