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Salesforce.com Grants Equity Awards Under its Inducement Equity Incentive Plan
May 25, 2011 (04:05 PM EDT)
SAN FRANCISCO, May 25, 2011 /PRNewswire/ -- Salesforce.com (NYSE: CRM), the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today reported that it granted equity awards under its 2006 Inducement Equity Incentive Plan (the "Plan") to new employees who joined salesforce.com in connection with its previously announced acquisition of Radian6 Technologies. The Plan was originally adopted by the Board of Directors in May 2006 in accordance with New York Stock Exchange Rule 303A.08.
Radian6 is the industry-leading platform for monitoring and engaging in the millions of conversations happening every day on Facebook, Twitter, and other social communities. The intelligence gained from these conversations has become critical in helping companies better market and sell to prospects, serve customers and understand what's being said about their brands, products and competitors. Salesforce.com will add the ability to monitor and join in these public conversations from within its products, giving customers the social intelligence they want with the business context they need.
Salesforce.com announced the definitive agreement to acquire Radian6 on March 30, 2011, and completed the acquisition on May 2, 2011.
Under the Plan, salesforce.com has granted non-qualified options to 15 employees to purchase a total of 121,465 shares of its common stock. The grants were made as of May 24, 2011 at an exercise price of $150.60 per share. All of these stock options were granted on terms that include the following: exercise price equal to the closing price of Company stock on the New York Stock Exchange on date of grant, five-year term and vesting over four years with 25 percent of the shares vesting on the first anniversary of the grant date and the balance vesting monthly thereafter in 36 equal installments, subject to continued service through each applicable vesting date.
Salesforce.com has also granted a total of 60,420 restricted stock units ("RSUs") to 105 employees under the Plan on May 24, 2011. The terms of these RSUs are as follows: five-year term and vesting over four years with 25 percent of the RSUs vesting on the first anniversary of the grant date and the balance vesting quarterly thereafter in 12 equal installments, subject to continued service through each applicable vesting date.
In addition, salesforce.com also granted a total of 70,390 RSUs to 35 employees under the Plan on May 24, 2011. The terms of these RSUs are as follows: five-year term and vesting over three years with 35 percent of the RSUs vesting on each of the first and second anniversaries of the grant date and the remaining 30 percent of the RSUs vesting on the third anniversary of the grant date, subject to continued service through each applicable vesting date.
Salesforce.com also granted a total of 2,226 RSUs to two employees under the Plan on May 24, 2011. The terms of these RSUs are as follows: five-year term and vesting over three years with 54 percent of the RSUs vesting on the second anniversary of the grant date and the remaining 46 percent of the RSUs vesting on the third anniversary of the grant date, subject to continued service through each applicable vesting date.
Each of the new employees who received an equity award is a non-executive employee and was previously with Radian6 and joined the Company as a result of the acquisition.
Salesforce.com is the enterprise cloud computing company that has transformed the way companies collaborate and communicate. Salesforce.com is leading the effort to bring Cloud 2, the next paradigm for computing, to the enterprise by offering its customers the social collaboration, mobility and openness that are the hallmark of this new world. The company’s platform and application services include:
Salesforce.com offers the fastest path to customer success with cloud computing. As of April 30, 2011, salesforce.com manages customer information for approximately 97,700 customers including Allianz Commercial, Dell, Japan Post, Kaiser Permanente, KONE, and SunTrust Banks.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM.” For more information please visit http://salesforce.com, or call 1-800-NO-SOFTWARE.
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