Summary
Salesforce, Inc. (CRM) filed an 8-K on April 19, 2017, primarily to disclose the cash bonuses awarded to its named executive officers for their performance in fiscal year 2017 (February 1, 2016 - January 31, 2017). These bonuses were determined based on the achievement of corporate performance goals and individual performance, and reflect amounts paid on April 14, 2017, after accounting for mid-year payouts made in September 2016. For investors, this filing provides transparency into executive compensation, directly linking executive pay to company performance. The bonus amounts reflect the company's assessment of its fiscal year 2017 results and the contributions of its senior leadership team. Notably, CEO Marc Benioff received the largest bonus, consistent with his leadership role and the structure of incentive compensation.
Key Highlights
- 1Salesforce awarded cash bonuses to its named executive officers for fiscal year 2017 performance.
- 2Bonus amounts were based on achievement of corporate performance goals and individual performance.
- 3The bonuses were paid on April 14, 2017, and net of mid-year bonus payouts.
- 4CEO Marc Benioff received the largest bonus, totaling $2,325,000.
- 5Other named executive officers receiving bonuses include Mark Hawkins (CFO), Keith Block (Vice Chairman, President & COO), Alexandre Dayon (President & Chief Product Officer), Parker Harris (Co-Founder & CTO), and Burke Norton (Chief Legal Officer).
- 6The Compensation Committee of the Board of Directors approved these bonus amounts.