Summary
Salesforce.com, Inc. (CRM) announced that its Chief Operating Officer, George Hu, will be taking a personal leave of absence for up to six months, effective December 2, 2014. This is a significant event for investors as it involves a key executive. While on leave, Mr. Hu will not receive a salary, but the company will continue to provide medical and life insurance benefits. Importantly, his outstanding unvested equity awards will continue to vest for the initial 31 days of his leave, which could impact future share dilution or compensation structures.
Key Highlights
- 1COO George Hu to take a personal leave of absence for up to six months starting December 2, 2014.
- 2Mr. Hu will not receive a salary during his leave.
- 3Company to continue medical and life insurance benefits for Mr. Hu during his absence.
- 4Outstanding unvested equity awards for Mr. Hu will continue to vest for the first 31 days of the leave.
- 5Mr. Hu remains eligible for a pro-rated bonus for the fiscal year ending January 31, 2015.
- 6The leave aligns with the company's standard personal leave of absence policy.