Business Context and Reporting Period
This Form 8-K is a current report filed by Salesforce, Inc. on March 30, 2007. 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. The specific event reported is the awarding of cash bonuses to named executive officers based on performance during fiscal year 2007 (February 1, 2006, to January 31, 2007).
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 30, 2007) | Mid-Year Bonus (Sept 29, 2006) |
|---|---|---|---|
| Marc Benioff | Chairman of the Board and CEO | $0 | N/A |
| Steve Cakebread | EVP and CFO | $184,476 | $50,000 |
| Kenneth Juster | EVP of Law, Policy, and Corporate Strategy | $130,000 | $50,000 |
| David Moellenhoff | Chief Technology Officer | $65,750 | $24,250 |
| Jim Steele | President, Worldwide Sales and Distribution | $197,250 | $72,750 |
Material Changes
The filing reports the distribution of year-end cash bonuses. These amounts were calculated based on the achievement of specific corporate and individual goals for fiscal year 2007, net of mid-year bonus payouts made on September 29, 2006. 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. The document is strictly a disclosure of compensatory arrangements approved by the Compensation Committee of the Board of Directors and the CEO.
Key Facts for Investor Verification
- CEO Marc Benioff received a $0 bonus for the fiscal year 2007 period.
- Total year-end bonuses paid to the four other named executive officers on March 30, 2007, amounted to $577,476.
- Compensation was contingent on achieving specific corporate and individual goals for the fiscal year ending January 31, 2007.
- Mid-year bonuses were previously paid to all officers except the CEO on September 29, 2006.