Business Context and Reporting Period
This Form 8-K is a current report filed by Salesforce, Inc. on March 31, 2011. 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 data on revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation details.
| Named Executive Officer | Position | Bonus Amount Paid (March 31, 2011) |
|---|---|---|
| Marc Benioff | Chairman of the Board and CEO | $675,000 |
| Graham Smith | Executive Vice President and CFO | $270,000 |
| Parker Harris | Executive Vice President, Technology | $253,125 |
| George Hu | Executive Vice President, Platform and Marketing | $253,125 |
| Frank van Veenendaal | President, Worldwide Sales and Service | $295,500 |
Note: These amounts are net of mid-year bonus payouts made on September 30, 2010.
Material Changes
The filing reports the execution of cash bonuses under the Company's Mahalo Bonus Plan. These payments were based on the achievement of specific corporate and individual goals during fiscal year 2011 (February 1, 2010, to January 31, 2011). No other material financial changes or operational shifts are disclosed in this document.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on future performance, or discussion of risks and contingencies. It is a disclosure of a completed compensation event approved by the Compensation Committee of the Board of Directors.
Key Facts for Investor Verification
- Verify the total compensation impact by adding the March 31, 2011 bonuses to the mid-year bonuses paid on September 30, 2010, for each named executive officer.
- Confirm the specific corporate and individual goals achieved during fiscal year 2011 that triggered these payouts by reviewing the Proxy Statement on Schedule 14A filed on May 7, 2010.
- Note that the filing date is April 1, 2011, while the event date is March 31, 2011.