Overview
- Salesforce entered ASR contracts on March 11 with Banco Santander, Bank of America, Citibank, JPMorgan Chase Bank and Morgan Stanley, advised by J. Wood Capital Advisors.
- Approximately 103 million shares were delivered upfront, representing about 80% of the tranche, with the final total determined by a VWAP-based formula and customary adjustments.
- Final settlement is expected in the third or fourth quarter of Salesforce’s fiscal 2027, at which point the definitive number of repurchased shares will be confirmed.
- The $25 billion tranche represents half of the $50 billion repurchase authorization approved in February, and the remaining $25 billion has not yet been deployed or scheduled.
- CRM shares rose about 2.5% in premarket and early trading on the news, as Marc Benioff and Robin Washington cast the move as a vote of confidence in growth and cash flow.