Salesforce Grants Equity Awards Under Its Inducement Equity Incentive Plan

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Mar 25, 2016, 04:15 ET

SAN FRANCISCO, March 25, 2016 /PRNewswire/ -- Salesforce (NYSE: CRM), the Customer Success Platform and world's #1 CRM company, 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 acquisitions of SteelBrick, Inc. ("SteelBrick") and PredictionIO. The Plan was adopted by the Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

SteelBrick is a next generation quote-to-cash platform delivered 100 percent natively on the Salesforce platform. PredictionIO's customizable, predictive engine templates empower developers and data scientists to build and deploy intelligent apps at scale. Salesforce closed both acquisitions in February 2016.

Under the Plan, Salesforce granted a total of 147,769 restricted stock units ("RSUs") to 49 employees at SteelBrick and a total of 29,758 RSUs to 4 employees at PredictionIO.

These RSUs vest over 4 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 employee and joined Salesforce as a result of the acquisitions.

About Salesforce
Salesforce, the Customer Success Platform and world's #1 CRM, empowers companies to connect with their customers in a whole new way. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

SOURCE Salesforce