Salesforce’s Benioff Gets Raise, $27.7 Million in OptionsDina Bass
Salesforce.com Inc. handed founder and Chief Executive Officer Marc Benioff a pay raise and a bigger options grant in fiscal 2014, lifting his total compensation for the year by 42 percent to $31.3 million.
Benioff’s salary rose to $1.2 million from $1 million, and he was granted stock-option awards valued at $27.7 million, the company said in a filing yesterday with the U.S. Securities and Exchange Commission. He also received $1.69 million of incentive pay and $784,088 in other benefits, including security arrangements. Benioff, 49, got $18.9 million worth of stock options in fiscal 2013, when his total pay was $22.1 million.
Salesforce.com, the biggest maker of customer-management software, in February gave a forecast for fiscal first-quarter and annual sales that topped analysts’ estimates. The San Francisco-based company has been adding large contracts, and Benioff has been building the business through acquisitions in the area of marketing software. Benioff owns 7.1 percent of the company’s common stock, Salesforce.com said in the filing.
Benioff has been an advocate for philanthropy in the technology industry. He and his wife have donated $200 million to a children’s hospital at the University of California at San Francisco, which now bears his name, and its nearby Oakland affiliate. In recent years, the couple has contributed more than $1.5 million to help homeless families and $2.7 million for public middle schools, according to the San Francisco Chronicle.
The software maker’s shares slipped 2.6 percent to $50.43 at yesterday’s close in New York. The stock has fallen 8.6 percent this year.