Salesforce Grants Equity Awards to Lintao SA and Servicetrace Employees Under Its Inducement Equity Incentive Plan

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Rhea-AI Summary

On October 28, 2021, Salesforce (NYSE: CRM) announced equity awards granted to employees from its recent acquisitions of Lintao SA and Servicetrace GmbH under its 2014 Inducement Equity Incentive Plan. A total of 1,936 restricted stock units (RSUs) were awarded to 7 Lintao employees, and 15,754 RSUs to 32 Servicetrace employees. These RSUs vest over four years, incentivizing continued service. Lintao enhances Tableau's analytics capabilities, while Servicetrace boosts MuleSoft's integration and automation offerings, supporting Salesforce's mission to enhance productivity and digital experience.

Positive

The acquisition of Lintao and Servicetrace enhances Salesforce's product offerings, particularly in analytics and automation.
Equity awards for employees encourage retention and align their interests with company performance.

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10/28/2021 - 05:05 PM EDT

SAN FRANCISCO, Oct. 28, 2021 /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 Lintao SA ("Lintao") and Servicetrace GmbH ("Servicetrace"). The Plan was adopted by the Salesforce Board of Directors in July 2014, in accordance with New York Stock Exchange Rule 303A.08.

Lintao delivers analytics dashboard templates and expertise in dashboard design and will advance Tableau's goal to provide trusted access to Salesforce data and embedding analytics in any cloud.

With Servicetrace, a leading provider of Robotic Process Automation (RPA), MuleSoft now brings together integration, APIs, and automation on one leading unified platform to enable companies to dramatically increase productivity and create seamless digital experiences, faster.

Through the Plan, Lintao and Servicetrace employees will receive equity awards as provided below. Each of the employees who received an equity award is a non-executive officer.

Salesforce granted a total of 1,936 restricted stock units ("RSUs") to 7 Lintao 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.

Salesforce also granted a total of 15,754 RSUs to 32 Servicetrace 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.

About Salesforce

Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/salesforce-grants-equity-awards-to-lintao-sa-and-servicetrace-employees-under-its-inducement-equity-incentive-plan-301411471.html

SOURCE Salesforce

FAQ

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What equity awards did Salesforce grant to Lintao and Servicetrace employees?

Salesforce granted 1,936 restricted stock units (RSUs) to 7 Lintao employees and 15,754 RSUs to 32 Servicetrace employees.

What is the vesting schedule for the RSUs granted by Salesforce?

The RSUs vest over four years, with 25% vesting on the first anniversary and the remainder vesting quarterly thereafter.

When was the press release regarding the equity awards issued?

The press release was issued on October 28, 2021.

What impact do the acquisitions of Lintao and Servicetrace have on Salesforce?

The acquisitions enhance Salesforce's analytics and automation capabilities, contributing to increased productivity.

Under which plan were the equity awards granted?

The equity awards were granted under Salesforce's 2014 Inducement Equity Incentive Plan.

Salesforce Grants Equity Awards to Lintao SA and Servicetrace Employees Under Its Inducement Equity Incentive Plan