Salesforce.com Grants Equity Awards under Its Inducement Equity Incentive Plan
SAN FRANCISCO - May 25, 2010 - Salesforce.com [NYSE: CRM], the enterprise cloud computing company, today reported that it granted equity awards under its 2006 Inducement Equity Incentive Plan (the "Plan") to new employees of salesforce.com in connection with its previously announced acquisition of Jigsaw Data Corporation (“Jigsaw”). The Plan was adopted by the Board of Directors originally in May 2006 in accordance with New York Stock Exchange Rule 303A.08.
Salesforce.com announced the acquisition of Jigsaw, the leader in crowd-sourced data services, on May 10, 2010. Jigsaw delivers the world’s most complete and accurate business contact data available in the cloud. Jigsaw’s tremendous success has been fueled by its vibrant community of more than 1.2 million members. Over the last six years, community members have built and maintained a contact database of more than 21 million business professionals at 3 million companies.
Under the Plan, salesforce.com has granted non-qualified options to seven non-executive employees to purchase a total of 88,000 shares of its common stock. Each of the new employees was previously a Jigsaw employee who joined the Company as a result of the acquisition. The grants were made as of May 25, 2010 at an exercise price of $82.13 per share. All of the above stock options were granted on terms that include the following: exercise price equal to the closing price of Company stock on the New York Stock Exchange on date of grant, 5 year term and vesting over 4 years with 25 percent of the shares 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.
Salesforce.com has also granted a total of 47,767 restricted stock units ("RSUs") to 37 non-executive employees under the Plan on May 25, 2010. Each of the new employees was previously a Jigsaw employee who joined the Company as a result of the acquisition. The terms of the RSUs are as follows: 5 year term and vesting 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.
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