Salesforce Grants Equity Awards to Griddable Employees Under Its Inducement Equity Incentive Plan

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Mar 22, 2019, 16:05 ET

SAN FRANCISCO, March 22, 2019 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced it has granted equity awards under its 2014 Inducement Equity Incentive Plan (the "Plan") to new employees who joined Salesforce in connection with its acquisition of Griddable. The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

Griddable is the industry's first smart-grid for enterprise data that enables digital transformation with a unified platform that simplifies database migration to the cloud, quickly and securely, addressing the evolving needs of digital businesses around the globe.

Under the Plan, Salesforce granted a total of 58,831 restricted stock units ("RSUs") to 27 Griddable employees.

The RSUs vest over four years with 25 percent of the RSUs vesting on the first anniversary of the grant date and the balance vesting quarterly thereafter in 12 equal installments, subject to continued service through each applicable vesting date. Each of the employees who received an equity award is a non-executive.

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SOURCE Salesforce