8-KLeadership Changes

Salesforce, Inc. 8-K Report, Executive Changes (Mar 31, 2008)

Filed March 31, 2008For Securities:CRM

Summary

Salesforce.com, Inc. (CRM) filed an 8-K on March 31, 2008, primarily to disclose the payment of cash bonuses to its named executive officers for fiscal year 2008 (ending January 31, 2008). The bonuses were determined based on the achievement of specific corporate and individual goals, and reflect net amounts after mid-year payouts. Notably, Chairman and CEO Marc Benioff received no bonus for the fiscal year, while other key executives like Steve Cakebread, Kenneth Juster, and Jim Steele received bonuses totaling $262,500, $175,000, and $262,500 respectively. The filing also provides context on executive role changes and previous bonus amounts, offering insight into executive compensation practices and performance-based incentives at the time.

Key Highlights

  • 1Payment of fiscal year 2008 cash bonuses to named executive officers announced.
  • 2Bonus amounts are net of mid-year payouts made on September 28, 2007.
  • 3CEO Marc Benioff did not receive a bonus for fiscal year 2008.
  • 4Steve Cakebread (President and Chief Strategy Officer) received a bonus of $262,500.
  • 5Kenneth Juster (EVP of Law, Policy, and Corporate Strategy) received a bonus of $175,000.
  • 6Jim Steele (Chief Customer Officer and President of International Operations) received a bonus of $262,500.
  • 7Bonuses were awarded based on achievement of corporate and individual goals.

Frequently Asked Questions

This 8-K filing primarily announces the payment of cash bonuses to Salesforce.com's named executive officers for fiscal year 2008, based on performance against corporate and individual goals.

The filing states that bonus amounts were based on the achievement of specific corporate and individual goals. While not explicitly detailed in this 8-K, Marc Benioff's lack of a bonus suggests that either corporate or individual performance targets, or both, were not met to the threshold required for his bonus payout for fiscal year 2008.

No, these bonus amounts represent performance-based cash incentives for fiscal year 2008. They do not include base salary, stock options, or other forms of compensation that executives may receive.

Mid-year bonus payouts were made on September 28, 2007. Steve Cakebread received $67,500, Kenneth Juster received $45,000, and Jim Steele received $67,500.