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.