Recently, Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff made headlines as he sold over $4 million worth of company stock. The transactions, disclosed in a regulatory filing, occurred on May 24 at prices ranging from $268.956 to $274.4989.

These sales were part of a prearranged Rule 10b5-1 trading plan that Benioff had adopted in December 2023. Such plans enable insiders to sell a predetermined number of shares at specific times to prevent insider trading accusations.

During the trading session, Benioff conducted multiple transactions, each at varying prices, with a weighted average price provided for each set of sales. Investors were assured that additional information on the number of shares sold at different prices within the specified ranges could be provided upon request.

While these sales have reduced Benioff’s direct holdings, he still holds a substantial amount of Salesforce stock, both personally and through the Marc R. Benioff Revocable Trust. Furthermore, the SEC filing revealed Benioff’s interests in the Marc Benioff Fund LLC, which also owns Salesforce shares.

Insider transactions are closely monitored by investors seeking insights into executives’ views on their company’s stock. Although sales under Rule 10b5-1 plans are preplanned and may not reflect an insider’s outlook on the company’s future, they remain significant events in the market.