San Francisco—August 25, 2016—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 acquisition of Demandware, Inc. (“Demandware”). The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.
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. Salesforce closed its acquisition of Demandware in July 2016.
Under the Plan, Salesforce granted a total of 51,770 restricted stock units ("RSUs") and 153,980 stock options to a total of 16 Demandware employees. The 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 acquisition.