Business Context and Reporting Period
This Form 8-K was filed by Salesforce, Inc. on February 17, 2018. The report discloses changes to the compensatory arrangements of the company's Named Executive Officers (NEOs), effective February 1, 2018, for fiscal year 2019.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on executive compensation adjustments.
Material Changes
The Compensation Committee approved updated annual base salaries and target bonus percentages for five Named Executive Officers. The specific changes for fiscal year 2019 are as follows:
- Marc Benioff (CEO): Base salary of $1,550,000; Target bonus of 200%.
- Keith Block (CLO): Base salary of $1,250,000; Target bonus of 100%.
- Parker Harris (CTO): Base salary of $1,000,000; Target bonus of 100%.
- Alexandre Dayon (EVP): Base salary of $900,000; Target bonus of 100%.
- Mark Hawkins (CFO): Base salary of $900,000; Target bonus of 100%.
Bonus amounts are contingent upon the achievement of Company and individual performance objectives under the Kokua Bonus Plan.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on operations, or discussion of risks and contingencies beyond the standard disclosure of executive compensation changes.
Investor Verification Checklist
- Verify the effective date of the compensation changes (February 1, 2018).
- Confirm the specific performance metrics tied to the Kokua Bonus Plan in the company's proxy statement.
- Review the total compensation history for these executives to assess the magnitude of the increase relative to prior years.
- Check for any concurrent filings regarding equity grants or other compensatory arrangements not detailed in this 8-K.