Tallapragada Srinivas 4

What Happened

• Tallapragada Srinivas, Salesforce's Chief Engineering & Customer Success Officer, had restricted stock units (RSUs) convert to 3,354 shares on 2026-06-22 (reported on 2026-06-23). The conversion shows an acquisition price of $0.00 per share (typical for RSU settlement).
• To cover tax withholding, 1,664 of those shares were surrendered/disposed at $150.12 per share, generating withholding value of $113,491 and $136,309 on two separate withholdings (total ~$249,800). After withholding, Srinivas received a net of 1,690 shares.

Key Details

• Transaction date: 2026-06-22; Form 4 filed: 2026-06-23 (timely filing).
• Conversion entries coded M (exercise/conversion of derivative); withholding entries coded F (shares withheld for tax).
• Prices: RSU conversion at $0.00; withheld shares recorded at $150.12 per share.
• Withheld shares: 756 shares ($113,491) and 908 shares ($136,309); total withheld value ≈ $249,800.
• Net shares delivered to insider: 3,354 converted − 1,664 withheld = 1,690 shares.
• Shares owned after the transaction are not disclosed in the provided filing extract.
• Footnotes: RSUs convert 1:1 to common stock. The awards referenced have standard vesting schedules (25% on March 22, 2025 or 2026, then 1/16 quarterly thereafter). F1 notes the withheld shares satisfy tax liabilities upon vesting.

Context

• This was a routine RSU settlement with shares withheld for taxes (a form of cashless settlement), not an open-market sale or purchase. That means the insider did not receive cash proceeds from the withheld shares; they were used solely to pay taxes.
• Such conversions and withholdings are common at vesting and are administrative rather than explicit signals of buying or selling intent.