Summary
This Form 8-K filing from Salesforce.com, Inc. (now Salesforce, Inc.) on March 2, 2012, reports on executive compensation changes for Mr. Frank van Veenendaal following his promotion to Vice Chairman. The filing details an increase in his annual base salary and target bonus for Fiscal Year 2013, along with equity awards in the form of stock options and restricted stock units. These adjustments reflect his new role and are subject to company and individual performance objectives and standard vesting schedules. Investors should note that this report primarily concerns executive compensation and does not disclose major business events or financial performance updates, which would typically be found in other SEC filings.
Key Highlights
- 1Frank van Veenendaal promoted to Vice Chairman of Salesforce.com, Inc.
- 2Effective February 1, 2012, Mr. van Veenendaal's annual base salary for FY2013 is set at $600,000.
- 3His annual target bonus for FY2013 is also set at $600,000, based on company and individual performance.
- 4Equity awards granted on February 28, 2012, include an option to purchase 28,842 shares of common stock.
- 5Additionally, 2,740 restricted stock units were granted to Mr. van Veenendaal.
- 6All equity awards are subject to the company's standard vesting schedule.
- 7The reported fiscal year 2013 runs from February 1, 2012, to January 31, 2013.