UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
March 15, 2006
Date of Report (date of earliest event reported)
SALESFORCE.COM, INC.
(Exact name of Registrant as specified in charter)
| Delaware | 001-32224 | 94-3320693 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (I. R. S. Employer Identification No.) |
The Landmark @ One Market, Suite 300
San Francisco CA 94105
(Address of principal executive offices)
Registrant’s telephone number, including area code: (415) 901-7000
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 1 – Registrant’s Business and Operations
Item 1.01 – Entry into a Material Definitive Agreement
On March 15, 2006, salesforce.com, inc. (the “Registrant”) awarded cash bonuses to its executive officers. The bonus amounts were based primarily on the achievement of specific corporate and individual goals since February 1, 2005, the start of Registrant’s current fiscal year, net of mid-year bonus payouts made on September 30, 2005. The following table sets forth the bonus amounts paid on March 15, 2006 to the Registrant’s named executive officers as approved by the Compensation Committee of the Registrant’s Board of Directors and the Registrant’s Chief Executive Officer:
| Named Executive Officer |
Position |
Bonus Amount | |||
| Marc Benioff | Chairman of the Board and Chief Executive Officer | $ | 0 | ||
| Jim Steele (1) | President, Worldwide Sales and Distribution | $ | 272,100 | ||
| Steve Cakebread (2) | Chief Financial Officer | $ | 141,204 | ||
| Parker Harris (3) | Executive Vice President, Technology | $ | 93,250 | ||
| Kenneth Juster (4) | Executive Vice President, Law, Policy and Corporate Strategy | $ | 34,800 | ||
| John Freeland (5) | President, Worldwide Operations | $ | 11,893 | ||
| (1) | Mr. Steele was paid a mid-year bonus on September 30, 2005 of $75,000. |
| (2) | Mr. Cakebread was paid a mid-year bonus on September 30, 2005 of $34,896. |
| (3) | Mr. Harris was paid a mid-year bonus on September 30, 2005 of $25,000. |
| (4) | Mr. Juster has a guaranteed bonus of $50,000 per quarter during his first year of employment. The amount listed is the overachievement amount. |
| (5) | Mr. Freeland has a guaranteed bonus of $75,000 per quarter during his first year of employment. The amount listed is the overachievement amount. |
In addition to the bonuses paid above, the Registrant paid bonuses on March 15 to its other executive officers totaling $277,885 in the aggregate.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: March 15, 2006 |
salesforce.com, inc. | |||
| /s/ David Schellhase | ||||
| David Schellhase, Senior Vice President and General Counsel | ||||