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INTUIT 2019 COMP REFLECTS FIRST-TIMERS Featured

Intuit’s compensation report for named executives for the year ended July 31 reflected the fact one only of six has been in their current position for a full fiscal year. Three, including CEO Sasan Goodarzi, assumed their current positions on January 1, while two moved into new jobs in August 2018.

Goodarzi, who was promoted from an EVP position, received $17.5 million for fiscal 2019, an increase of 38.4 percent from $12.7 million in 2018. The largest pay elements were stock awards of $11.2 million for the most recently ended year, up 35.7 percent from $8.2 million the prior year and FY 2019 option awards of $4 million, which rose 45.4 percent from $2.7 million.  CFO Michelle Clatterbuck, who took over her position in February 2018, had 2019 compensationof $8.7 million, off 6.4 percent from $9.3 million in fiscal 2018. However, Intuit hiked her base salary 22.7 percent to $700,000 from $570,385 and her 2018 income was affected by a promotion stock grant of slightly less than $2 million. Making the list for the first time was Alex Chriss, the EVP who leads the small business and self-employed group. His annual compensation was $12.2 million. His compensation included $2.1 million from restricted stock unit promotion grant. EVP Greg Johnson, who runs the consumer tax business, had total compensation of $10.3 million. He began that job in August 2018. Former CEO Brad Smith, who became executive chairman of Intuit in January, had $13.7 million in compensation last year, compared to $21.1 million for fiscal 2018. His fiscal 2019 compensation included stock awards of $9.3 million. Of that, $5 million came in restricted stock units, $3 million of that a one-time award in February for his efforts in the CEO transition and his transition to the board position. Chief people and places officers Laura Fennell, who spent 14 years as the software company’s general counsel, was put in her current job in August 2018. Fennell’s 2019 income was $8.5 million, up 14.2 percent from $7.5 million the prior year.

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