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.