Salesforce Grants Equity Awards to Traction on Demand Employees Under Its Inducement Equity Incentive Plan

Rhea-AI Summary

On June 24, 2022, Salesforce (NYSE: CRM) announced the granting of 283,690 restricted stock units (RSUs) to 425 new employees from Traction on Demand as part of its 2014 Inducement Equity Incentive Plan. The RSUs will vest over a four-year period, with 25% vesting after the first year and the remainder vesting quarterly. This move is in alignment with Salesforce's strategy to enhance employee retention and incentivize new talent following the acquisition of Traction on Demand.

Positive

• Granted 283,690 RSUs to 425 employees, enhancing retention and incentive post-acquisition.
• The vesting schedule encourages long-term commitment from new hires.

Negative

• None.

SAN FRANCISCO, June 24, 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 Traction on Demand. 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 283,690 restricted stock units ("RSUs") to 425 Traction on Demand 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 June 24, 2022 regarding employee equity awards?

Salesforce announced the granting of 283,690 restricted stock units (RSUs) to 425 new employees from Traction on Demand.

How many RSUs were granted to Traction on Demand employees by Salesforce?

Salesforce granted a total of 283,690 RSUs to 425 employees.

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 remainder vesting quarterly.

What plan did Salesforce use to grant equity awards to new employees?

Salesforce used its 2014 Inducement Equity Incentive Plan to grant the equity awards.

How does the RSU grant impact Salesforce employees?

The RSU grant is intended to enhance employee retention and incentivize new hires following the acquisition of Traction on Demand.