Business Context and Reporting Period
This Form 8-K filing by Salesforce, Inc. (Salesforce.com, Inc.) is dated March 31, 2014. The report addresses Item 5.02 regarding compensatory arrangements for certain officers and the departure of a former officer. The performance period for the bonuses discussed covers the fiscal year 2014, running from February 1, 2013, to January 31, 2014.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on specific cash bonus payments to named executive officers and a former officer.
| Named Executive Officer | Position | Bonus Amount Paid (March 31, 2014) |
|---|---|---|
| Marc Benioff | Chairman of the Board and CEO | $1,236,600 |
| Graham Smith | Chief Financial Officer | $412,200 |
| Parker Harris | Co-Founder | $429,375 |
| Frank van Veenendaal | Vice Chairman | $429,375 |
Additionally, Blair Crump, who resigned effective January 31, 2014, was awarded a cash bonus of $196,875 under a Separation Agreement, payable in August 2014.
Material Changes
The filing notes that the bonuses awarded on March 31, 2014, are net of mid-year bonus payouts made on September 30, 2013. Specific mid-year amounts included:
- Marc Benioff: $450,000
- Graham Smith: $150,000
- Parker Harris: $156,250
- Frank van Veenendaal: $156,250
The filing confirms the previously reported resignation of Blair Crump and details the finalization of his separation compensation.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or a discussion of general business risks. The text states that bonus amounts were based primarily on the achievement of specific corporate and individual goals during the fiscal year, as detailed in the Company's Proxy Statement on Schedule 14A filed on May 8, 2013.
Key Facts for Investor Verification
- Verify the total cash compensation for fiscal year 2014 by adding the March 31, 2014, bonuses to the mid-year bonuses paid on September 30, 2013.
- Confirm the terms of the Separation Agreement with Blair Crump regarding the $196,875 payment scheduled for August 2014.
- Review the Proxy Statement on Schedule 14A (filed May 8, 2013) to understand the specific corporate and individual goals that triggered these bonus payments.
- Note that this filing does not report on the company's overall financial performance for the period.