Summary
This Form 8-K filing by Salesforce.com, Inc. (CRM) on September 30, 2005, primarily reports on the entry into a material definitive agreement related to executive compensation. Specifically, the company awarded cash bonuses to its executive officers, with the amounts determined by the achievement of corporate and individual performance goals set since the beginning of the fiscal year on February 1, 2005. Investors should note that the Chairman and CEO, Marc Benioff, did not receive a cash bonus. Other key executives, including the President of Worldwide Sales, Chief Financial Officer, Chief Security and Risk Officer, and Chief Technology Officer, received varying bonus amounts. A total of $99,500 was also paid in aggregate bonuses to other executive officers. This disclosure provides insight into the company's executive incentive structure and performance-based compensation for the period.
Key Highlights
- 1Salesforce.com, Inc. awarded cash bonuses to its executive officers on September 30, 2005.
- 2Bonus amounts were based on the achievement of specific corporate and individual goals for the fiscal year starting February 1, 2005.
- 3Chairman and CEO Marc Benioff did not receive a cash bonus.
- 4President of Worldwide Sales, Jim Steele, received a bonus of $75,000.
- 5Chief Financial Officer Steve Cakebread received a bonus of $34,896.
- 6A total of $99,500 in aggregate bonuses was paid to other executive officers.