SAN FRANCISCO, Nov. 29, 2013 /PRNewswire/ --Salesforce.com (NYSE: CRM), the world's #1 CRM platform (http://www.salesforce.com/), 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 acquisition of CloudConnect. The Plan was originally adopted by the Board of Directors in May 2006, in accordance with New York Stock Exchange Rule 303A.08.
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CloudConnect provides a simple and seamless way to integrate and sync data in salesforce.com with MySql, Postgres and similar relational databases. Salesforce.com completed the acquisition of CloudConnect on Nov. 8, 2013.
Under the Plan, salesforce.com granted a total of 12,540 restricted stock units ("RSUs") to two employees who were previously CloudConnect employees and joined salesforce.com as a result of the acquisition. 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 and the balance vesting quarterly thereafter in 12 equal installments, subject to continued service through each applicable vesting date.
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SOURCE salesforce.com
