SAN FRANCISCO – January 24, 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 Model Metrics. The Plan was originally adopted by the Board of Directors in May 2006 in accordance with New York Stock Exchange Rule 303A.08.
Model Metrics, a mobile and social cloud consulting services company, has led some of the largest mobile and social cloud deployments and created a mobility practice that delivers enterprise apps with a user experience that customers love. With Model Metrics, salesforce.com will develop and share best practices with partners to accelerate social enterprise success. In addition, the salesforce.com partner ecosystem will be able to leverage the Model Metrics team’s expertise in mobile and social design conception, user experience, business process alignment, and frameworks for building employee and customer facing apps.
Salesforce.com announced the acquisition of Model Metrics on November 14, 2011.
Under the Plan, salesforce.com has granted non-qualified options to two employees to purchase a total of 23,501 shares of its common stock. The grants were made as of January 24, 2012 at an exercise price of $117.53 per share. All of these 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, five-year term and vesting over four 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 also plans to grant a total of 54,632 restricted stock units (\"RSUs\") to 72 employees under the Plan in February 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.
In addition, salesforce.com also plans to grant a total of 35,343 RSUs to 56 employees under the Plan in February 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 Model Metrics and joined the Company as a result of the acquisition.