Salesforce.com 2004 Annual Report Download - page 20

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Table of Contents
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
Market Information for Common Stock
Our common stock has been quoted on the New York Stock Exchange under the symbol "CRM" since June 23, 2004. Prior to that time, there was no
public market for our common stock. The following table sets forth for the indicated periods the high and low sales prices of our common stock as reported by
the New York Stock Exchange.
High
Low
Fiscal year ending January 31, 2005
Second quarter (beginning June 23, 2004) $ 17.69 $ 11.00
Third quarter $ 20.60 $ 9.00
Fourth quarter $ 22.70 $ 13.35
Dividend Policy
We have never paid any cash dividends on our common stock. Our board of directors currently intends to retain any future earnings to support
operations and to finance the growth and development of our business and does not intend to pay cash dividends on our common stock for the foreseeable
future. Any future determination related to our dividend policy will be made at the discretion of our board.
Stockholders
As of January 31, 2005 there were 1,168 stockholders of record of our common stock, including the Depository Trust Company, which holds shares of
salesforce.com common stock on behalf of an indeterminate number of beneficial owners.
Recent Sales of Unregistered Securities
a. Securities Sold
Since November 1, 2004, we have issued 79,419 shares of common stock upon the net exercise of 85,000 warrants by Heidrick & Struggles, Inc.
at an exercise price per share of $1.10.
b. Underwriters and Other Purchasers
Not applicable.
c. Consideration
As a result of the net exercise of warrants, we received no cash proceeds.
d. Exemption from Registration Claimed
The shares issued pursuant to the above described exercises were exempt from Registration pursuant to Section 4(2) of the Securities Act.
e. Terms of Conversion or Exercise
Not applicable.
f. Use of Proceeds
The Securities and Exchange Commission declared our registration statement, filed on Form S-1 (File No. 333-111289) under the Securities Act
of 1933 in connection with the initial public offering of our
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