Salesforce Grants Equity Awards to Narrative Science Employees Under Its Inducement Equity Incentive Plan

Rhea-AI Summary

Salesforce (NYSE: CRM) announced on January 26, 2022, that it granted 53,846 restricted stock units (RSUs) to 55 employees from Narrative Science following its acquisition. The RSUs, a part of the 2014 Inducement Equity Incentive Plan, will vest over four years, with 25% vesting on the first anniversary and the remainder quarterly. Narrative Science specializes in data storytelling technologies, now integrated with Tableau, enhancing Salesforce's capabilities in data analysis and communication.

Positive

• Salesforce expands its talent pool by granting RSUs to employees acquired from Narrative Science.
• Integration of Narrative Science enhances Salesforce's data storytelling capabilities.

Negative

• None.

SAN FRANCISCO, Jan. 26, 2022 /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 Narrative Science. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

Narrative Science is a global leader in data storytelling technologies and is now part of the Tableau team. Narrative Science's data storytelling technology automates the analysis, build, and communication of insights from data in a modern, easy-to-use narrative format that people can understand.

Salesforce granted a total of 53,846 restricted stock units ("RSUs") to 55 Narrative Science 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 did Salesforce announce on January 26, 2022?

Salesforce announced it granted restricted stock units (RSUs) to 55 employees of Narrative Science following the acquisition.

How many RSUs did Salesforce grant to Narrative Science employees?

Salesforce granted a total of 53,846 RSUs to 55 employees.

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

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

What is Narrative Science known for?

Narrative Science is known for its data storytelling technologies that automate data analysis and insights communication.

Under which plan were the equity awards granted?

The equity awards were granted under the 2014 Inducement Equity Incentive Plan.