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

Rhea-AI Summary

Salesforce (NYSE: CRM) grants equity awards to new employees under its 2014 Inducement Equity Incentive Plan in connection with the acquisition of Spiff. A total of 117,029 restricted stock units were granted to 107 Spiff employees, vesting over four years. The awards were made in accordance with NYSE Rule 303A.08.

SAN FRANCISCO--(BUSINESS WIRE)-- Salesforce (NYSE: CRM), the #1 AI 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 Spiff. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

Through the Plan, Salesforce granted a total of 117,029 restricted stock units ("RSUs") to 107 Spiff employees. The RSUs vest over four years with 25 percent of the RSUs vesting on the first anniversary of the grant date and with 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.

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Sarah Kennedy

(415) 412-2052

Source: Salesforce

FAQ

How many restricted stock units were granted to Spiff employees?

Salesforce granted a total of 117,029 restricted stock units to 107 Spiff employees.

How long is the vesting period for the RSUs?

The RSUs vest over four years, with 25 percent vesting on the first anniversary of the grant date and the balance vesting quarterly thereafter in 12 equal installments.

What is the purpose of the 2014 Inducement Equity Incentive Plan?

The Plan was adopted by the Salesforce Board of Directors in July 2014 to grant equity awards to new employees joining Salesforce in connection with acquisitions.

How many employees received equity awards?

A total of 107 Spiff employees received equity awards under the Plan.

What is the significance of NYSE Rule 303A.08 in this announcement?

The awards granted to employees were made in accordance with New York Stock Exchange Rule 303A.08.