Business Context and Reporting Period
This Form 8-K is a current report filed by Salesforce, Inc. on April 2, 2010, regarding events occurring on March 31, 2010. The filing addresses Item 5.02, specifically the awarding of cash bonuses to named executive officers under the Company's Mahalo Bonus Plan.
Key Financial Metrics
The filing does not provide consolidated financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to specific executive compensation payments made on March 31, 2010.
| Named Executive Officer | Position | Bonus Amount (March 31, 2010) |
|---|---|---|
| Marc Benioff | Chairman of the Board and CEO | $412,500 |
| Graham Smith | Executive VP and CFO | $173,250 |
| Jim Steele | Chief Customer Officer | $189,875 |
| Polly Sumner | Chief Adoption Officer | $202,125 |
Note: These amounts are net of mid-year bonus payouts made on September 30, 2009.
Material Changes
The filing reports the execution of a compensatory arrangement based on the achievement of corporate and individual goals for fiscal year 2010 (February 1, 2009, to January 31, 2010). There are no reported material changes to the company's financial condition or operations outside of this specific compensation event.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, outlook, management commentary on future performance, or discussion of risks and contingencies. The document is strictly a disclosure of a completed executive compensation event approved by the Compensation Committee and the CEO.
Key Facts for Investor Verification
- Verify the total cash outflow for executive bonuses on March 31, 2010, which totaled $977,750 for the four named officers.
- Confirm the total compensation for each officer by adding the March 31, 2010 bonus to the mid-year bonus paid on September 30, 2009 (e.g., Marc Benioff's total bonus for the period was $600,000).
- Review the Company's Proxy Statement on Schedule 14A filed on May 1, 2009, for the specific corporate and individual goals that triggered these payments.