Summary
This 8-K filing from Salesforce.com, Inc. (CRM) on September 29, 2006, primarily discloses the award of cash bonuses to its named executive officers. The bonuses were determined based on the achievement of corporate and individual performance goals established since the beginning of the fiscal year on February 1, 2006. While the CEO, Marc Benioff, received no bonus, other key executives like the CFO and President of Worldwide Sales and Distribution received the highest payouts, reflecting their performance against set targets. This disclosure is important for investors as it provides insight into executive compensation practices and the company's performance metrics for the period.
Key Highlights
- 1Salesforce.com awarded cash bonuses to named executive officers on September 29, 2006.
- 2Bonus amounts were based on the achievement of corporate and individual performance goals.
- 3CEO Marc Benioff did not receive a bonus.
- 4CFO Steve Cakebread received a $50,000 bonus.
- 5President, Worldwide Sales and Distribution Jim Steele received the highest bonus of $72,750.
- 6The Compensation Committee of the Board of Directors and the CEO approved the bonus amounts.