Salesforce.com 2010 Annual Report Download - page 82

Table of Contents
Restricted stock activity is as follows:
Restricted Stock Outstanding
Outstanding
Weighted-
Average
Exercise Price
Aggregate
Intrinsic
Value
(in thousands)
Balance as of January 31, 2009 2,499,151 $ 0.001
Granted 859,636 0.001
Cancelled (212,774) 0.001
Vested and converted to shares (829,561) 0.001
Balance as of January 31, 2010 2,316,452 0.001
Granted 2,048,925 0.001
Cancelled (223,220) 0.001
Vested and converted to shares (926,054) 0.001
Balance as of January 31, 2011 3,216,103 $ 0.001 $ 415,328
Expected to vest 2,979,791 $ 384,810
The restricted stock, which upon vesting entitles the holder to one share of common stock for each share of restricted stock, has an exercise price of
$0.001 per share, which is equal to the par value of the Company's common stock, and vest over 4 years.
The weighed-average fair value of the restricted stock issued in fiscal 2011 and 2010 was $108.03 and $47.59, respectively.
The Company reduced its income taxes payable by the tax benefit realized from the exercise, sale or vesting of the stock options or similar instruments
during fiscal 2011 in the amount of $76.1 million. Cash provided by financing activities due to excess tax benefits from employee stock plans was a result of a
portion of such cash tax benefit and the tax benefit arising from the utilization of net operating losses generated primarily from the settlement of stock awards
in prior years.
Common Stock
The following number of shares of common stock were reserved and available for future issuance at January 31, 2011:
Options outstanding 11,783,159
Restricted stock awards and units outstanding 3,216,103
Stock available for future grant:
2004 Equity Incentive Plan 3,122,358
2006 Inducement Equity Incentive Plan 362,102
2004 Employee Stock Purchase Plan 1,000,000
2004 Outside Directors Stock Plan 611,000
0.75% Convertible senior notes 6,735,953
Warrants 6,735,953
33,566,628
During fiscal year 2011 and 2010, certain board members received stock grants totaling 48,000 shares of common stock, respectively for board services
pursuant to the terms described in the 2004 Outside Directors Stock Plan. The expense related to these awards, which was expensed immediately at the time
of the issuance, totaled $4.9 million and $2.2 million, in fiscal 2011 and 2010 respectively.
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