Summary
This Form 8-K filing from Salesforce.com, Inc. (CRM), dated April 4, 2014, primarily reports on the payout of fiscal year 2014 cash bonuses to its named executive officers. These bonuses were awarded on March 31, 2014, and were based on the achievement of specific corporate and individual goals for the fiscal year ending January 31, 2014, taking into account mid-year payouts. The filing details the bonus amounts for key executives including the CEO, CFO, and other senior leaders. Additionally, the report addresses a payment to a former executive, Blair Crump, related to his resignation effective January 31, 2014. Mr. Crump received a settlement of $196,875, designed to compensate him for the cash bonus he would have earned had he remained employed. This filing provides transparency into executive compensation practices and the financial outcomes related to executive performance and departures.
Key Highlights
- 1Salesforce.com, Inc. awarded fiscal year 2014 cash bonuses to its named executive officers on March 31, 2014.
- 2Bonus payouts were determined by the achievement of corporate and individual goals for the fiscal year ending January 31, 2014.
- 3CEO Marc Benioff received a bonus of $1,236,600, net of a mid-year payout.
- 4CFO Graham Smith received a bonus of $412,200, net of a mid-year payout.
- 5Other named executive officers, Parker Harris and Frank van Veenendaal, each received a bonus of $429,375, net of mid-year payouts.
- 6Former executive Blair Crump received a separation payment of $196,875, to be paid in August 2014, compensating for his potential bonus.
- 7The Compensation Committee of the Board of Directors approved these bonus awards.