Salesforce Grants Equity Awards Under Its Inducement Equity Incentive Plan

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Sep 23, 2016, 04:30 ET

SAN FRANCISCO, Sept. 23, 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 Coolan, Inc. ("Coolan"), Demandware, Inc. ("Demandware") and Quip, Inc. ("Quip"). The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

Coolan empowers companies to track and analyze infrastructure reliability to increase uptime, optimize efficiency and scale hardware operations. Demandware is the industry's leading enterprise cloud commerce platform that enables leading brands to deliver personalized, 1-to-1 experiences for consumers and power their commerce. Quip changes the way people work by marrying communication and content to enable collaboration right within documents or spreadsheets, on any device. Salesforce closed its acquisition of Demandware in July, and its acquisitions of Coolan and Quip in August.

Under the Plan, Salesforce granted a total of 1,343,366 restricted stock units ("RSUs") and 155,668 stock options to nine employees at Coolan, 13 employees at Demandware and 50 employees at Quip.

These 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. The stock options vest over four years with 25 percent of the options vesting on the first anniversary of the grant date and the balance vesting monthly thereafter in 36 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