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

Rhea-AI Summary

Salesforce (NYSE: CRM) announced the granting of equity awards to new employees from Mobify Research and Development under its 2014 Inducement Equity Incentive Plan. This plan was established in July 2014 to comply with NYSE regulations. Mobify will enhance Salesforce's Commerce Cloud with modern storefront solutions, improving customization and shopping experiences across channels. A total of 19,322 restricted stock units (RSUs) were granted to 19 Mobify employees, vesting over four years. These actions are intended to drive revenue growth in a digital-first economy.

Positive

• Mobify's integration is expected to enhance Salesforce Commerce Cloud and improve customer experiences.
• The granting of RSUs may help attract and retain talent, supporting future growth.

Negative

• None.

SAN FRANCISCO, Nov. 23, 2020 /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 Mobify Research and Development Inc. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

Mobify will provide Salesforce Commerce Cloud with a modern storefront solution that will allow brands to customize their commerce experiences faster and more frequently, deliver an enhanced shopping experience across any channel, and further increase conversion and revenue to drive success in the digital-first economy.

Through the Plan, Mobify employees received various equity awards as provided below. Each of the employees who received an equity award is a non-executive officer. Under the Plan, we granted a total of 19,322 restricted stock units ("RSUs") to 19 Mobify 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.

About Salesforce

Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360-degree view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

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SOURCE Salesforce

FAQ

What is Salesforce's recent equity award announcement related to?

Salesforce announced it granted equity awards to Mobify employees as part of its 2014 Inducement Equity Incentive Plan.

How many restricted stock units were granted to Mobify employees?

A total of 19,322 restricted stock units (RSUs) were granted to 19 Mobify employees.

What benefits will Mobify bring to Salesforce Commerce Cloud?

Mobify will provide a modern storefront solution, enhancing customization and shopping experiences across channels.

When was Salesforce's Inducement Equity Incentive Plan adopted?

The Inducement Equity Incentive Plan was adopted by the Salesforce Board in July 2014.

What is the vesting schedule for the RSUs granted to Mobify employees?

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