Business Context and Reporting Period
This Form 8-K is a current report filed by Salesforce, Inc. on March 31, 2008. The filing addresses Item 5.02 regarding the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on executive compensation details.
| Named Executive Officer | Position | Bonus Amount (March 31, 2008) |
|---|---|---|
| Marc Benioff | Chairman of the Board and Chief Executive Officer | $0 |
| Steve Cakebread | President and Chief Strategy Officer | $262,500 |
| Kenneth Juster | Executive Vice President of Law, Policy, and Corporate Strategy | $175,000 |
| Jim Steele | Chief Customer Officer and President of International Operations | $262,500 |
Note: Bonus amounts are net of mid-year payouts made on September 28, 2007.
Material Changes
The filing reports the payment of cash bonuses to named executive officers based on the achievement of corporate and individual goals for fiscal year 2008 (February 1, 2007, to January 31, 2008). No material changes to financial performance or corporate structure are disclosed in this specific report.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on future performance, risks, contingencies, or unusual items. It is a disclosure of a specific compensatory event approved by the Compensation Committee and the CEO.
Key Facts for Investor Verification
- Verify the total compensation packages for the named executive officers, including the mid-year bonuses paid on September 28, 2007.
- Confirm the specific corporate and individual goals that triggered these bonus payments for fiscal year 2008.
- Note that CEO Marc Benioff received a $0 bonus for this specific payout period.
- Review the role changes noted for Steve Cakebread (formerly CFO) and Jim Steele (formerly President, Worldwide Sales and Distribution).