Key Highlights
- Salesforce initiated a record-breaking $25 billion accelerated share repurchase (ASR) program — its largest in company history
- The repurchase program commenced March 11, 2026, featuring an upfront delivery of about 103 million shares
- These 103M shares account for approximately 80% of the anticipated total repurchase under this agreement
- This $25B ASR constitutes half of the comprehensive $50 billion buyback authorization approved by the board in February 2026
- CRM shares jumped approximately 2.5% during premarket hours Monday; completion is projected for Q3 or Q4 of fiscal 2027
Salesforce (CRM) commenced its historic $25 billion accelerated share repurchase initiative on Monday, marking the company’s most substantial ASR to date and propelling shares upward by roughly 2.5% in premarket activity.
The enterprise software giant announced the prepayment and upfront receipt of approximately 103 million shares through ASR contracts executed on March 11, 2026, involving several prominent financial institutions.
The participating financial partners include Banco Santander, Bank of America, Citibank, JPMorgan Chase Bank, and Morgan Stanley, with J. Wood Capital Advisors acting as transaction advisor.
The upfront allocation of 103 million shares constitutes about 80% of the projected total shares to be acquired in this phase. The ultimate quantity will be determined using the volume-weighted average price of CRM shares throughout the transaction period, adjusted for a discount and other factors.
CEO Marc Benioff articulated the company’s rationale forcefully: “We are aggressively repurchasing shares because we are so confident in the future of Salesforce,” he stated.
Robin Washington, Salesforce’s president and chief operating and financial officer, characterized the ASR as evidence of the company’s “increased conviction in the durability of its growth and cash flow trajectory.”
The $25 billion initiative represents the immediate deployment of precisely half the $50 billion comprehensive share repurchase authorization that Salesforce’s board greenlit in February 2026.
That $50 billion overall authorization ranks among the most substantial buyback programs in enterprise software sector history.
Financial Breakdown
The upfront 103 million share allocation is calculated using CRM’s March 11, 2026 closing price — the execution date for the ASR contracts.
Final settlement of this $25 billion portion is anticipated during either the third or fourth quarter of Salesforce’s fiscal year 2027.
Trading roughly 2.5% higher in Monday’s premarket session, investor reaction to the disclosure was favorable, albeit moderate considering the program’s magnitude.
Salesforce has faced mounting investor pressure throughout the previous year to deploy its expanding cash reserves more aggressively, making the $50 billion authorization a clear response to those demands.
Looking Forward
The additional $25 billion from the total $50 billion authorization remains undeployed at this time.
This second portion could be implemented via additional ASR transactions or traditional open market share purchases, though Salesforce hasn’t disclosed a specific timeline.
The present ASR transaction incorporates five leading Wall Street institutions, indicating a carefully orchestrated and professionally managed approach rather than conventional open market acquisitions.
The precise share count acquired under this initial phase won’t be finalized until settlement concludes, which isn’t anticipated until the latter part of fiscal 2027.
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