Bret Taylor - Jun 22, 2022 Form 4 Insider Report for Salesforce, Inc. (CRM)

Role
Vice Chair of the Board, CoCEO, Director
Signature
/s/ Katherine Huynh, attorney-in-fact for Bret Taylor
Stock symbol
CRM
Transactions as of
Jun 22, 2022
Transactions value $
$31,952,474
Form type
4
Date filed
6/24/2022, 08:45 PM
Previous filing
May 27, 2022
Next filing
Jul 25, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CRM Non-qualified Stock Option (Right to Buy) Award $32M +191K $167.45 191K Jun 22, 2022 Common Stock 191K $167.45 Direct F1
transaction CRM Performance-Based Restricted Stock Units Award $0 +78.9K $0.00 78.9K Jun 22, 2022 Common Stock 78.9K $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Option vests over four years at the rate of 25% on June 22, 2023, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months.
F2 Each performance-based restricted stock unit, or PRSU, represents a contingent right to receive one share of Issuer common stock.
F3 The PRSUs will vest depending on Issuer's total shareholder return ("TSR") over the three-year period from the grant date (the "Performance Period"), relative to companies in the NASDAQ-100 Index as of the grant date (the "Index Group"). If Issuer's TSR over the Performance Period is at the 60th percentile when ranked against the Index Group TSRs, 100% of the target number of shares will vest. For every percentile by which Issuer's TSR ranking within the Index Group exceeds the 60th percentile, shares vesting will increase by 3 and 1/3%, up to a maximum payout of 200% of target if Issuer's TSR ranking is at the 99th percentile. For every percentile by which Issuer's TSR ranking within the Index Group is below the 60th percentile, shares vesting will decrease by 2 and 22/39%, with no payout if Issuer's TSR ranking is below the 30th percentile. If Issuer's absolute TSR over the Performance Period is negative, the number of shares vesting will not exceed 100% of target.