SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 29, 2013
(Exact Name of Company as Specified in Charter)
Companys telephone number, including area code: (888) 553-9216
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Officers; Compensatory Arrangements of Certain Officers.
On January 25, 2013, the Compensation Committee (the Committee) of the Board of Directors of Demandware, Inc. (the Company) approved the 2013 Executive Short-Term Incentive Program (the 2013 Plan), pursuant to which the Companys executive officers are eligible to receive an annual cash bonus (a Bonus Award) based on the Companys achievement of specified corporate thresholds and targets (90%) and on the executives individual performance (10%) for the year ending December 31, 2013. Under the 2013 Plan, the corporate performance metrics and weighting are as follows:
Under the 2013 Plan, each executive officer has an established target award, as set forth on the table below, representing a percentage of such executives base salary for 2013. To the extent that the Companys actual performance exceeds the full performance target with respect to a particular performance metric, the target bonus may be increased by up to 50%.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.