Summary
Salesforce.com, Inc. (CRM) filed an 8-K on November 26, 2013, to report changes in the compensation packages for its principal executive officer, principal financial officer, and a named executive officer. These changes, effective February 1, 2014, include adjustments to base salaries and annual target bonuses, as well as equity grants. The report details specific salary and bonus figures for Marc Benioff, Graham Smith, and Parker Harris for the company's Fiscal Year 2015. Additionally, significant equity awards were granted, including a substantial stock option grant to Mr. Benioff and stock options coupled with restricted stock units for Messrs. Smith and Harris. These adjustments reflect the company's standard equity granting schedule and aim to align executive compensation with company and individual performance.
Key Highlights
- 1Effective February 1, 2014, Salesforce's top executives received updated compensation packages.
- 2Marc Benioff's annual base salary increased to $1,440,000 with an annual target bonus of $2,880,000.
- 3Graham Smith and Parker Harris each received an increased annual base salary of $650,000 and an annual target bonus of $650,000.
- 4Bonuses will be determined based on a mix of company and individual performance objectives under the Kokua Bonus Plan.
- 5Marc Benioff was granted an option to purchase 1,849,441 shares of common stock, subject to standard vesting.
- 6Graham Smith and Parker Harris each received an option to purchase 217,014 shares of common stock and 17,362 restricted stock units, also subject to standard vesting.
- 7The equity awards were granted on November 26, 2013, consistent with the company's regular equity granting schedule for executive officers.