Salesforce (CRM) President Niles Sabastian Exercises RSUs; Shares Withheld

What Happened

• Niles Sabastian, President and Chief Legal Officer of Salesforce, had restricted stock units (RSUs) vest and convert to common stock on 2026-09-22. A total of 2,032 RSUs converted to shares (1,015 + 1,017). To cover tax withholding, 1,125 shares (562 + 563) were surrendered at $233.28 per share, totaling $262,440. After withholding, Sabastian received a net 907 shares.

Key Details

• Transaction date: 2026-09-22; Form 4 filed 2026-09-23 (timely filing).
• Conversion entries: two M-code derivative conversions for 1,015 and 1,017 shares (acquired at $0.00 because these were RSU settlements).
• Withholding entries: two F-code dispositions of 562 and 563 shares at $233.28 each to satisfy tax liability, totaling $131,103 and $131,337 (aggregate $262,440).
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: F1 indicates shares were withheld to satisfy tax liability; F2 confirms RSUs convert one-for-one to common stock; F3 and F4 describe the RSU vesting schedules (25% on March 22, 2025 or 2026, then 1/16 quarterly thereafter).

Context

• This was not an open-market sale but a routine cashless settlement/tax withholding on RSU vesting: the RSUs converted to shares (M = exercise/conversion), and a portion was withheld (F = tax withholding). Such withholdings are standard and do not necessarily indicate a decision to sell shares on the market.