SAN FRANCISCO, Aug. 26, 2020 /PRNewswire/ -- Salesforce (NYSE:
CRM), the global leader in CRM, 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
the acquisition of Vlocity, Inc.. The Plan was adopted by the
Salesforce Board of Directors in July
2014, in accordance with New York Stock Exchange Rule
303A.08.
Vlocity's feature set will continue to enhance and complement
Salesforce's industry capabilities and product knowledge, open up
new industry capabilities built on the Salesforce platform and
provide customers with even more tools and expert guidance to
digitally transform.
Through the Plan, Vlocity employees received various equity
awards as provided below. Each of the employees who received an
equity award is a non-executive officer.
Under the Plan, Salesforce granted a total of 363,731 restricted
stock units ("RSUs") and 88,463 stock options to 703 Vlocity
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.
About Salesforce
Salesforce is the global leader in
Customer Relationship Management (CRM), bringing companies closer
to their customers in the digital age. Founded in 1999, Salesforce
enables companies of every size and industry to take advantage of
powerful technologies—cloud, mobile, social, internet of things,
artificial intelligence, voice and blockchain—to create a
360-degree view of their customers. For more information about
Salesforce (NYSE: CRM), visit: www.salesforce.com.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/salesforce-grants-equity-awards-to-vlocity-employees-under-its-inducement-equity-incentive-plan-301119299.html
SOURCE Salesforce