Salesforce Grants Equity Awards to Phennecs Employees Under Its Inducement Equity Incentive Plan
Salesforce (NYSE: CRM) announced granting equity awards under its 2014 Inducement Equity Incentive Plan to 14 new employees from Phennecs, a provider of data management solutions. A total of 22,106 restricted stock units (RSUs) and 22,463 stock options (NQs) were awarded, with vesting schedules set over four years. The RSUs vest 25% after one year and the balance quarterly, while the NQs vest 25% after one year and the remainder monthly thereafter. This move aims to enhance talent retention and promote growth within Salesforce.
- Equity awards granted to 14 new employees from Phennecs to enhance retention.
- Total of 22,106 RSUs and 22,463 stock options awarded, potentially increasing employee engagement.
- None.
SAN FRANCISCO, May 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 Phennecs. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.
Phennecs, a provider of privacy, compliance and data management solutions built on the Salesforce Platform, brings simple-to-use data management applications to customer production and developer environments.
Through the Plan, Salesforce granted a total of 22,106 restricted stock units ("RSUs") and 22,463 stock options ("NQS") to 14 Phennecs 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 NQs vest over four years with 25 percent of the NQs 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. Each of the employees who received an equity award is a non-executive officer.
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
