Salesforce.com Grants Equity Awards Under Its Inducement Equity Incentive Plan
SAN FRANCISCO – March 1, 2012 - Salesforce.com [NYSE: CRM], the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today reported that it granted equity awards under its 2006 Inducement Equity Incentive Plan (the "Plan") to new employees who joined salesforce.com in connection with its previously announced acquisition of 2Catalyze, doing business as Rypple. The Plan was originally adopted by the Board of Directors in May 2006 in accordance with New York Stock Exchange Rule 303A.08.
Rypple is a social performance app built for the way we work today—in real time. With Rypple, teams can share key priorities and get the continuous feedback, coaching, and recognition they need to consistently achieve their goals, making performance management painless and effective. The acquisition solidifies salesforce.com’s entry into the human capital management (HCM) market for the social enterprise and extends the value of salesforce.com’s existing core products in the social world.
Under the Plan, salesforce.com has granted a total of 36,324 restricted stock units ("RSUs") to 29 employees as of February 28, 2012. The terms of these RSUs are as follows: five-year term and vesting 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.
Salesforce.com also granted a total of 27,404 RSUs to 14 employees under the Plan on February 28, 2012. The terms of these RSUs are as follows: 33 percent of the total amount granted vesting on the one year anniversary date of the grant date, an additional 33 percent of the total amount granted vesting on the second year anniversary date of the grant date and the final 34 percent of the total amount granted vesting on the third year anniversary date of the grant date.
Each of the new employees who received an equity award is a non-executive employee and was previously with Rypple and joined the Company as a result of the acquisition.
Salesforce.com announced the signing of the agreement to acquire Rypple, on December 15, 2011. The acquisition closed in February 2012.
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