Niles Sabastian 4
4 · Salesforce, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Salesforce (CRM) President Niles Sabastian Exercises Options, Receives Awards
What Happened
Niles Sabastian, President and Chief Legal Officer of Salesforce (CRM), converted/exercised derivative awards and received multiple grants/awards on March 22, 2026. The filing shows a total of about 79,729 shares acquired through conversions/awards (reported at $0.00 per share because these were stock units/awards). To cover tax obligations, 2,281 shares were withheld and disposed at $195.38 each, generating proceeds of $445,662 (reported as $80,106 and $365,556 in two withholding transactions). Several derivative instruments were cancelled/converted in the process (reported as $0 disposals).
Key Details
- Transaction date: March 22, 2026; filing date: March 24, 2026 (appears timely).
- Prices: awards/conversions reported at $0.00 (A / M codes); tax-withheld dispositions at $195.38 per share.
- Shares acquired (total reported across entries): ~79,729 shares.
- Shares withheld for taxes (disposed): 2,281 shares for $445,662 total.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes:
- F1: Shares withheld to satisfy tax liability on vesting.
- F2/F6: Some awards are performance-based (PRSUs / fiscal‑2026 performance options) earned after a 3‑year/performance period; certain earned PRSUs/options vest on later dates (e.g., scheduled vesting Sept 15, 2026 for PRSUs).
- F3–F7: RSUs convert 1:1 to common stock and many grants have multi‑year vesting schedules (25% cliff then quarterly/monthly vesting).
- Transaction types explained: M = exercise/conversion of derivative; A = grant/award; F = shares withheld/sold to cover taxes.
Context
This was not an open‑market purchase or a routine sale to diversify; most activity reflects equity awards and conversions (including performance‑based RSUs/options) and the routine withholding of shares to pay taxes — a common, administrative step after vesting. When derivatives are converted and shares are immediately withheld to cover taxes, it functions like a cashless exercise rather than a market-driven sale. The filing contains multiple future vesting schedules — some shares reported as “acquired” are subject to continued service or future vesting dates (per footnotes), so they are not necessarily freely tradable today.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-22+1,015→ 6,773 total - Tax Payment
Common Stock
[F1]2026-03-22$195.38/sh−410$80,106→ 6,363 total - Exercise/Conversion
Common Stock
2026-03-22+4,068→ 10,431 total - Tax Payment
Common Stock
[F1]2026-03-22$195.38/sh−1,871$365,556→ 8,560 total - Award
Common Stock
[F2]2026-03-22+16,084→ 24,644 total - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-03-22−1,015→ 8,124 totalExercise: $0.00From: 2025-03-22Exp: 2028-03-22→ Common Stock (1,015 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F5]2026-03-22−4,068→ 12,207 totalExercise: $0.00From: 2026-03-22Exp: 2029-03-22→ Common Stock (4,068 underlying) - Award
Performance Stock Option
[F6]2026-03-22+32,418→ 32,418 totalExercise: $280.62From: 2026-03-22Exp: 2032-03-22→ Common Stock (32,418 underlying) - Award
Restricted Stock Units
[F3][F7]2026-03-22+26,144→ 26,144 totalExercise: $0.00From: 2027-03-22Exp: 2030-03-22→ Common Stock (26,144 underlying)
Footnotes (7)
- [F1]Represents shares withheld to satisfy the reporting person's tax liability upon vesting and settlement of a restricted stock unit award.
- [F2]This represents the number of shares subject to the new-hire performance-based restricted stock unit ("PRSU") award that were earned based on the achievement of certain performance criteria over a three-year performance period that ended on January 31, 2026. On March 22, 2026, the Compensation Committee certified that certain performance criteria with respect to the performance period were achieved, and the number of shares reported in column 4 are scheduled to vest on September 15, 2026, subject to the holder's continued employment through such date.
- [F3]Restricted Stock Units convert to shares of common stock on a one-for-one basis.
- [F4]These restricted stock units vest as to 25% of the original grant on March 22, 2025 and vest as to 1/16 of the original grant quarterly thereafter.
- [F5]These restricted stock snits vest as to 25% of the original grant on March 22, 2026 and vest as to 1/16 of the original grant quarterly thereafter.
- [F6]This represents the number of shares subject to fiscal year 2026 performance option that were earned based upon the achievement of applicable performance criteria with a performance period that ended on January 31, 2026. 25% of the earned option shares will become vested on March 22, 2026, with the remaining option shares becoming vested in equal monthly installments over the following 36 months, subject to the holder's continued service through each such date.
- [F7]These restricted stock units vest as to 25% of the original grant on March 22, 2027 and vest as to 1/16 of the original grant quarterly thereafter.