Summary
This Form 8-K filing by Salesforce.com, Inc. (CRM) on April 1, 2011, primarily details the payment of cash bonuses to its named executive officers on March 31, 2011. These bonuses were awarded under the Company's Mahalo Bonus Plan and were contingent upon the achievement of specific corporate and individual performance goals for fiscal year 2011 (ending January 31, 2011). The filing provides the individual bonus amounts paid, taking into account previously distributed mid-year bonus payments. This information is relevant for investors seeking to understand executive compensation practices and the alignment of pay with performance.
Key Highlights
- 1Salesforce.com paid cash bonuses to its named executive officers on March 31, 2011.
- 2The bonuses were awarded under the Mahalo Bonus Plan.
- 3Bonus amounts were primarily based on the achievement of corporate and individual goals for fiscal year 2011.
- 4The reported amounts are net of mid-year bonus payouts made in September 2010.
- 5Marc Benioff, Chairman and CEO, received the largest bonus at $675,000.
- 6The filing provides specific bonus amounts for key executives including the CFO and other EVPs.
Frequently Asked Questions
The primary purpose of this 8-K filing is to disclose the payment of cash bonuses to Salesforce.com's named executive officers on March 31, 2011, and to detail the amounts awarded based on their performance in fiscal year 2011.
The bonus amounts were determined based on the achievement of specific corporate and individual goals set for fiscal year 2011, as outlined in the Company's Mahalo Bonus Plan and previously discussed in their proxy statement.
No, these are the final bonus amounts paid on March 31, 2011. The filing specifies that these amounts are net of mid-year bonus payouts that were already distributed on September 30, 2010. Therefore, the total compensation for the year would include both the mid-year and the final payouts.
The filing lists the bonuses paid to named executive officers, including Marc Benioff (Chairman and CEO), Graham Smith (EVP and CFO), Parker Harris (EVP, Technology), George Hu (EVP, Platform and Marketing), and Frank van Veenendaal (President, Worldwide Sales and Service).