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Salesforce, Inc.·4

Mar 24, 9:46 PM ET

Niles Sabastian 4

Research Summary

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Updated

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.