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INTUIT’S SMITH EARNED $21.1M Featured

Brad Smith, IntuitIntuit CEO Brad Smith received $21.1 million  in compensation for the year ended July 31, an increase of 28.6 percent from $16.4 million a year earlier. Smith, who is leaving the company, will be replaced by EVP Sasan Goodarzi on January 1.

The biggest portion of the increase came from $12.9 million in stock awards, up 26.3 percent from slightly less than $10 million in fiscal 2017. There were $4.5 million in option awards last year, 26.3 percent higher than the $3.6 million the prior year. The average was bumped up by a reimbursement of  $645,289 because of the company’s failure to defer some of Smith’s restricted stock units after they vested in 2017. Goodarzi received $12.6 million in fiscal 2018, an increase of 34.6 percent from $9.4 million in 2017. Outgoing chief technology officer Tayloe Stansbury was paid $7.5 million last year, an increase of 9.2 percent from $6.9 million. There were two newcomers on the list of named executives. CFO Michelle Clatterbuck, who took her job on February 1, was received $9.3 million in compensation for 2018 while Laura Fennell, who became chief people and places officer on August 1, was paid $7.5 million for her prior role as EVP, general counsel and corporate secretary. Former CEO Neil Williams, who retired on January 31, was paid $462,692 for the partial year.

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