Salesforce CEO Marc Benioff has sold a total of $4,064,172 worth of company stock, according to a recent SEC filing. The transactions took place on April 19, 2024, and involved multiple sales at prices ranging from $269.6091 to $272.3807 per share.
The filing indicates that Benioff executed these sales automatically pursuant to a Rule 10b5-1 trading plan, which was adopted on December 29, 2023. Rule 10b5-1 plans allow company insiders to set up predetermined trading schedules to sell stocks, thereby avoiding accusations of insider trading.
The sales were spread across four separate transactions. In the first, Benioff sold 3,614 shares at a weighted average price of $269.6091. The second transaction saw 4,252 shares sold at an average of $270.544. The third sale involved 4,658 shares at $271.5838 per share on average, and the final transaction included 2,476 shares at a weighted average price of $272.3807.
Following these transactions, the SEC filing shows that Benioff still holds a substantial number of shares directly or through the Marc R. Benioff Revocable Trust. Additionally, 10,000,000 shares are held indirectly by the Marc Benioff Fund LLC.
