Goodarzi had total compensation of $6.9 million for the year ended July 30. In his new role, Smith will have an annual salary of $750,000, down from his current million. His compensation for fiscal 2018 was $16.4 million. The change in salaries is important because annual bonus targets are set at a percentage of salary—150 percent for Goodarzi and 100 percent for Smith. Smith will also receive $3 million in restricted stock units in February, which vest over four years.
INTUIT SETS GOODARZI’S PAY Featured
Intuit has changed compensation terms for Sasan Goodarzi, who will become Intuit’s CEO on January 1. He will succeed Brad Smith, who will become executive chairman on that date. Goodarzi’s base salary will be $1 million, up from the $750,000 he currently receives.
