Salesforce CEO Marc Benioff sold over $4.5 million worth of company stock using a Rule 10b5-1 plan. This pre-arranged trading strategy allowed insiders to sell shares at set times.

According to a recent SEC filing, CEO Marc Benioff has sold a sizable portion of the company's stock. Benioff sold shares on March 20, 2024, for a total of more than $4.5 million, at values ranging from $301.60 to $306.89. Benioff established a Rule 10b5-1 plan, which is a pre-arranged trading strategy, on September 21, 2023, under which the transactions were carried out. Insiders of the corporation may sell shares under this kind of arrangement at set times in order to avoid being accused of insider trading.

The shares were sold in a number of transactions, with the largest selling being in one go at a price average of $306.23, for 6,319 shares. In other noteworthy transactions, 2,900 shares and 3,475 shares were sold at an average price of $302.46 and $301.60, respectively. Smaller-scale sales were also made, but they all added to the total value of the shares sold. Benioff continues to hold a significant portion of Salesforce shares, either directly or through the Marc R. Benioff Revocable Trust, and indirectly owns an additional 10,000,000 shares through the Marc Benioff Fund LLC.

Investors frequently keep an eye on CEO purchases and sales as a sign of how confident they are in the company's future. For the benefit of investors and regulatory agencies, the filing provides clarity regarding share amounts and pricing.