SAN FRANCISCO, Aug. 28, 2012 /PRNewswire/ -- 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 Buddy Media. The Plan was originally adopted by the Board of Directors in May 2006 in accordance with New York Stock Exchange Rule 303A.08.
Buddy Media,the world's leading social media marketing platform, allows customers to publish content, place and optimize social advertising and measure the effectiveness of social media marketing programs. As a result, customers can determine which content is driving the most engagement, test different strategies and understand which campaigns are delivering the greatest return on investment. By combining Buddy Media with Salesforce Radian6, the world's leading social media listening platform, salesforce.com will deliver the first comprehensive Marketing Cloud that will allow customers to listen, engage, gain insight, publish, advertise and measure social marketing programs. With the Salesforce Marketing Cloud, CMOs will be empowered to manage the entire social marketing lifecycle.
Under the Plan, salesforce.com has granted non-qualified options to three employees to purchase a total of 59,508 shares of its common stock. The grants were made as of August 28, 2012 at an exercise price of $145.12 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 (except with respect to one employee, on August 14, 2013) and the balance vesting monthly thereafter in 36 equal installments, subject to continued service through each applicable vesting date.
Salesforce.com also granted a total of 129,027 restricted stock units ("RSUs") to 123 employees under the Plan as of August 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 (except with respect to one employee, on August 14, 2013) and the balance vesting quarterly thereafter in 12 equal installments, subject to continued service through each applicable vesting date.
In addition, salesforce.com also granted a total of 188,460 RSUs to 45 employees under the Plan as of August 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 (except with respect to one employee, on August 14, 2013), an additional 33 percent of the total amount granted vesting on the second year anniversary date of the grant date (except with respect to one employee, on August 14, 2014) and the final 34 percent of the total amount granted vesting on the third year anniversary date of the grant date (except with respect to one employee, on August 14, 2015).
Each of the new employees who received an equity award is a non-executive employee and was previously with Buddy Media and joined salesforce.com as a result of the acquisition.
Salesforce.com announced the closing of the acquisition of Buddy Media on August 13, 2012.
About salesforce.com: Founded in 1999, salesforce.com is the enterprise cloud computing company that is leading customers in their transformation to become social enterprises. Social enterprises are able to connect with customers, partners and employees in entirely new ways. Based on salesforce.com's real-time, multitenant architecture, the company's platform and application services give customers the tools to create a true social front office and revolutionize the way they sell, service, market, collaborate, work, and innovate.
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 in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit http://salesforce.com, or call 1-800-NO-SOFTWARE.
Cautionary Statement Regarding Forward-Looking Statements This press release may be deemed to contain forward-looking statements about salesforce.com and Buddy Media, including statements that involve risks and uncertainties concerning salesforce.com's acquisition of Buddy Media, the combined capabilities of the companies' products and the impact of Marketing Cloud on CMOs. When used in this press release, the words "can," "will," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of salesforce.com or Buddy Media, that could cause actual outcomes to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the anticipated synergies and benefits of the combined companies may not be achieved, the combined companies may experience delays, unexpected costs or be unable to complete integration activities in a timely manner, if at all, the possibility that key personnel of Buddy Media may not be retained by salesforce.com, responses from competitors, customers, users and partners, general economic conditions in the markets in which either company does business, and the possibility that salesforce.com or Buddy Media may be adversely affected by other economic, business, and/or competitive factors.
In addition, please refer to the documents that salesforce.com files with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause salesforce.com's financial and operational results to differ materially from those contained in the forward-looking statements set forth in this press release. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Neither salesforce.com nor Buddy Media is under any duty to update any of the information in this press release.