Niles Sabastian 4

What Happened

• Niles Sabastian, President and Chief Legal Officer of Salesforce (CRM), had 1,663 restricted stock units (RSUs) convert to common shares on 2026-02-22. Of those, 691 shares were withheld to satisfy the tax liability at $185.16/share (totaling $127,946). The conversion is reported as a derivative exercise/settlement rather than an open-market sale or purchase.
• Net new shares delivered to Sabastian after withholding: 1,663 − 691 = 972 shares. This is a routine vesting/settlement and not an open-market sale.

Key Details

• Transaction date: 2026-02-22; Form 4 filed: 2026-02-23 (timely — within the SEC’s 2-business-day window).
• Reported actions/codes: M = exercise/conversion of derivative (RSU conversion), F = shares withheld to satisfy tax liability.
• Withheld shares: 691 @ $185.16 = $127,946 withheld to pay taxes.
• RSU conversion: 1,663 RSUs converted to 1,663 shares (F2: 1-for-1 conversion).
• Vesting schedule note (F3): these RSUs vest 25% on Aug 22, 2024 and 1/16 quarterly thereafter — this was a scheduled vesting tranche.
• Shares owned after transaction: not specified in the filing excerpt provided.
• Filing timeliness: Filed next day (Feb 23) — appears timely; no late-file flag reported.

Context

• This was a vesting/settlement of RSUs, not an open-market purchase or sale. The withholding of shares to cover taxes is a common administrative action and does not indicate an intent to trade further.
• The “disposed” entry for the derivative indicates the RSU/derivative position was converted into common stock (i.e., the derivative was settled), which is why the derivative line shows a disposition of 1,663 RSU units while the common shares were acquired.