Salesforce, the global leader in CRM, announced it has granted equity awards under its 2014 Inducement Equity Incentive Plan (the “Plan”) to new employees who joined Salesforce in connection with the integration of Salesforce.org. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.
Salesforce.org is a dedicated vertical within Salesforce, focused on technology for social impact. With Salesforce.org, Salesforce will scale its philanthropic efforts and create strategic synergies and operational simplicity that will enable the company to drive even greater success for its nonprofit, education and philanthropy customers.
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Through the Plan, Salesforce.org employees will receive various equity awards as provided below. Each of the employees who received an equity award is a non-executive officer.
GRANT 1:
Under the Plan, Salesforce granted a total of 231,315 restricted stock units (“RSUs”) and 489,383 stock options to 570 Salesforce.org employees. The RSUs vest 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. The stock options vest over four years with 25 percent of the options 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.
GRANT 2:
Under the Plan, Salesforce granted a total of 30,143 RSUs to 60 Salesforce.org employees. The RSUs vest over one year with 25 percent of the RSUs vesting October 22, 2019 and the balance vesting quarterly thereafter in 3 equal installments through July 22, 2020, subject to continued service through each applicable vesting date.
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GRANT 3:
Under the Plan, Salesforce granted a total of 18,289 RSUs to 60 Salesforce.org employees. The RSUs vest over one year with 25 percent of the RSUs vesting October 22, 2020 and the balance vesting quarterly thereafter in 3 equal installments through July 22, 2021, subject to continued service through each applicable vesting date.
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