[Form 4] Salesforce, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Salesforce, Inc. (CRM) director Oscar Munoz reported a routine equity transaction involving restricted stock units. On 11/22/2025, 274 restricted stock units converted into 274 shares of Salesforce common stock at an exercise price of $0, reflecting standard vesting rather than an open-market purchase.

Following this conversion, Munoz beneficially owns 12,665 shares of Salesforce common stock in direct ownership. The restricted stock units convert to common stock on a one-for-one basis and are scheduled to vest in four equal installments on February 22, May 22, August 22, and November 22, 2025, marking a planned compensation-related share delivery for a board member.

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

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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)
11/22/2025

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	11/22/2025		M		274	A	$0	12,665	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)	11/22/2025		M			274	02/22/2025(2)	11/22/2025	Common Stock	274	$0	0	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.

	/s/ Sarah Dale, Attorney-in-Fact for Oscar Munoz	11/24/2025
	** 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 Salesforce (CRM) director Oscar Munoz report on this Form 4?

Oscar Munoz reported the conversion of 274 restricted stock units into 274 shares of Salesforce common stock on 11/22/2025 at an exercise price of $0, reflecting scheduled vesting of equity compensation.

How many Salesforce (CRM) shares does Oscar Munoz own after the reported transaction?

After the reported transaction, Oscar Munoz beneficially owns 12,665 shares of Salesforce common stock in direct ownership.

What are the vesting terms of Oscar Munoz’s Salesforce restricted stock units?

The restricted stock units convert to common stock on a one-for-one basis and vest as to 25% of the original grant on each of February 22, 2025, May 22, 2025, August 22, 2025, and November 22, 2025.

Was this Salesforce (CRM) Form 4 filed by one or multiple reporting persons?

The Form 4 was indicated as being filed by one reporting person, relating solely to director Oscar Munoz.

Does this Salesforce (CRM) Form 4 reflect a stock sale or option exercise for cash?

No cash exercise or market sale is shown. The filing reflects vesting and conversion of 274 restricted stock units into common shares at an exercise price of $0, which is typical for RSU grants.

What security types are disclosed for Oscar Munoz in this Salesforce (CRM) Form 4?

The filing discloses Salesforce common stock in Table I and restricted stock units in Table II, with those units converting into an equal number of common shares.