Summary
This Form 8-K filing by Salesforce.com, Inc. (CRM) on April 6, 2005, reports on the entry into a material definitive agreement concerning executive officer bonuses for the fiscal year ended January 31, 2005. The bonuses were awarded on March 31, 2005, and were primarily based on the achievement of specific corporate and individual performance goals. This disclosure provides insight into the company's executive compensation practices and its focus on performance-based incentives. Investors can use this information to understand how key management personnel are being rewarded and how their compensation aligns with the company's performance objectives during that fiscal period. The filing specifically details the bonus amounts paid to named executive officers, including the CEO, President of Worldwide Sales and Services, CFO, and other key executives. While the CEO, Marc Benioff, received no bonus, other executives received significant awards tied to their roles and the company's overall success. The aggregate amount paid to other executive officers is also disclosed, offering a complete picture of the bonus pool distributed to the executive team.
Key Highlights
- 1Salesforce.com awarded cash bonuses to executive officers on March 31, 2005, for the fiscal year ended January 31, 2005.
- 2Bonus amounts were primarily determined by the achievement of specific corporate and individual performance goals.
- 3Chairman and CEO Marc Benioff did not receive a bonus for the fiscal year.
- 4President of Worldwide Sales and Services, Jim Steele, received the largest bonus among named executives at $363,000.
- 5CFO Steve Cakebread received a bonus of $151,250.
- 6A total of $228,650 in bonuses was paid to other executive officers not individually named in the filing.