Published: September 26, 2008
Salesforce.com Grants Equity Awards Under Its Inducement Equity Incentive Plan
SAN FRANCISCO, Sept. 26 /PRNewswire-FirstCall/ -- Salesforce.com
(NYSE: CRM), the market and technology leader in Software-as-a-Service (SaaS)
and Platform-as-a-Service (PaaS), 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
InStranet, Inc. The Plan was adopted by the Board of Directors in May 2006 in
accordance with New York Stock Exchange Rule 303A.08.
Salesforce.com announced the acquisition of InStranet, the leading
provider of knowledge management technology for business to consumer (B2C)
call centers, on August 20, 2008. InStranet has solved the customer service
and support challenge by taking a completely different approach to knowledge
base management through its patented Dimensions technology. Dimensions adds
the customer's context, such as product or geography, to the knowledge base,
quickly delivering the right solution and eliminating irrelevant search
results. This powerful technology provides call center agents with accurate
answers to customer questions at an unmatched speed and greatly improves
customers' Web-based self-service experience.
Under the Plan, salesforce.com has granted options to purchase a total of
124,050 shares of its common stock to 35 non-executive employees. On
September 9, 2008, salesforce.com granted 2 options to its French employees to
purchase a total of 29,250 shares at an exercise price of $57.20 under the
terms and conditions of the Plan's French Sub-Plan. On September 23, 2008,
salesforce.com granted 22 options to its French employees to purchase 37,300
shares at an exercise price of $52.43 under the terms and conditions of the
Plan's French Sub-Plan, and granted 11 options to its employees outside of
France to purchase 57,500 shares at an exercise price of $52.23 under the
terms and conditions of the Plan. All of the above stock options were granted
on terms that include the following: 5 year term and vesting over 4 years with
25% of the shares vesting on the first anniversary of the grant date and the
balance vesting monthly thereafter in 36 equal installments.
Salesforce.com has also granted or will grant a total of 41,316 restricted
stock units ("RSUs") to 40 non-executive employees under the Plan.
Salesforce.com made 2 awards for a total of 5,249 RSUs on August 23, 2008 and
plans to make 38 additional awards for a total of 36,067 RSUs in November
2008. For employees inFrance, terms of the RSUs are as follows: 5 year term
and vesting over 4 years with 50% of the RSUs vesting on the second
anniversary of the grant date and the balance vesting quarterly thereafter in
8 equal installments. For employees outside ofFrance, the terms of the RSUs
are as follows: 5 year term and vesting over 4 years with of 25% of the RSUs
vesting on the first anniversary of the grant date and the balance vesting
quarterly thereafter in 12 equal installments.
About Salesforce.com
Salesforce.com is the market and technology leader in Software-as-a-
Service (SaaS) and Platform-as-a-Service (PaaS). The company's portfolio of
SaaS applications, including its award-winning CRM, available at
http://www.salesforce.com/products/, has revolutionized the ways that
customers manage and share business information over the Internet. The
company's Force.com PaaS enables customers, developers and partners to build
powerful on-demand applications that deliver the benefits of multi-tenancy
across the enterprise. Applications built on the Force.com platform, available
at http://www.force.com/, can be easily shared, exchanged and installed with a
few simple clicks via salesforce.com's Force.com AppExchange marketplace
available at http://www.salesforce.com/appexchange/.
As of July 31, 2008, salesforce.com manages customer information for
approximately 47,700 customers including ABN AMRO, Dow Jones Newswires, Japan
Post, Kaiser Permanente, KONE, Sprint Nextel, and SunTrust Banks. Any
unreleased services or features referenced in this or other press releases or
public statements are not currently available and may not be delivered on time
or at all. Customers who purchase salesforce.com applications should make
their purchase decisions based upon features that are currently available.
Salesforce.com has headquarters inSan Francisco, with offices inEurope and
Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM".
For more information please visit http://www.salesforce.com, or call
1-800-NO-SOFTWARE.
Copyright (c) 2008 salesforce.com, inc. All rights reserved. Salesforce
and the "no software" logo are registered trademarks of salesforce.com, inc.,
and salesforce.com owns other registered and unregistered trademarks. Other
names used herein may be trademarks of their respective owners.
SOURCE salesforce.com
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