01—Abstract
Summary
Summary of the 8-K filed April 19, 2017. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- Salesforce awarded cash bonuses to its named executive officers for fiscal year 2017 performance.
- Bonus amounts were based on achievement of corporate performance goals and individual performance.
- The bonuses were paid on April 14, 2017, and net of mid-year bonus payouts.
- CEO Marc Benioff received the largest bonus, totaling $2,325,000.
- Other 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).
- The Compensation Committee of the Board of Directors approved these bonus amounts.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The primary purpose of this 8-K filing is to disclose the cash bonuses awarded to Salesforce's named executive officers for their performance during fiscal year 2017.
How were the executive bonuses determined?
The bonuses were determined based on the achievement of specific corporate performance goals and the individual performance of each executive officer during fiscal year 2017.
Who received bonuses and what were the general amounts?
Bonuses were awarded to key executives including CEO Marc Benioff, CFO Mark Hawkins, and others such as Keith Block, Alexandre Dayon, Parker Harris, and Burke Norton. Marc Benioff received the largest bonus at $2,325,000.
When were these bonuses paid?
The final bonus amounts were paid out on April 14, 2017, after taking into account any mid-year bonus payouts that occurred on September 30, 2016.
04—Continue