Salesforce Grants Equity Awards to LevelJump Employees Under Its Inducement Equity Incentive Plan

Rhea-AI Summary

Salesforce (NYSE: CRM) announced the granting of equity awards under its 2014 Inducement Equity Incentive Plan to 12 new employees from LevelJump, a sales enablement solution acquired by Salesforce. A total of 14,444 restricted stock units (RSUs) were granted, with a four-year vesting period and 25% vesting after the first year. LevelJump will enhance Salesforce's Sales Cloud, improving sales process engagement and workforce upskilling. This move signals Salesforce's commitment to expanding its capabilities in sales enablement.

Positive

• Expansion into sales enablement with LevelJump acquisition.
• Equity awards align new employees' interests with company performance.

Negative

• None.

SAN FRANCISCO, Nov. 26, 2021 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today 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 acquisition of LevelJump. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

LevelJump is a sales enablement and readiness solution built on the Salesforce platform, providing modern, outcome-based enablement and coaching within the Sales Cloud interface. LevelJump will become part of Sales Cloud, accelerating Salesforce's entry into the sales enablement space by guiding and facilitating better engagement and measurable impact on the sales process. With LevelJump and Trailhead, Salesforce will play an even larger role in upskilling the future workforce – an increasingly vital need in the modern workplace.

Through the Plan, Salesforce granted a total of 14,444 restricted stock units ("RSUs") to 12 LevelJump 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. Each of the employees who received an equity award is a non-executive officer.

About Salesforce

Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

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SOURCE Salesforce

FAQ

What equity awards were granted by Salesforce on November 26, 2021?

Salesforce granted 14,444 restricted stock units (RSUs) to 12 new employees from LevelJump.

How does LevelJump benefit Salesforce's Sales Cloud?

LevelJump enhances the Sales Cloud by providing modern enablement and coaching solutions.

What is the vesting schedule for the RSUs granted by Salesforce?

The RSUs vest over four years, with 25% vesting on the first anniversary and the rest vesting quarterly.

What is the purpose of Salesforce's Inducement Equity Incentive Plan?

The plan is designed to attract and retain employees by granting equity awards in alignment with company goals.

When was the Inducement Equity Incentive Plan adopted by Salesforce?

The plan was adopted by the Salesforce Board of Directors in July 2014.