His compensation rose to $4.81 million from $4.65 million. Smith's bonus fell to $828,000 for the most recently ended year, down from $1.7 million for fiscal 2008. However, his option awards were valued at $1.4 million, up from just under $956,000 a year ago while his stock awards carried a value of $1.74 million, up from $1.15 million. Some may have noticed an Associated Press headline that Smith's pay was cut in half. I'm trying to figure that out, although apparently the news agency does apply a formula regarding the value of the stock and option awards that must reduce them.
INTUIT'S SMITH GETS SMALL INCREASE IN COMP
Given the economy, it's not surprising that the bonus for Intuit CEO Brad Smith dropped by 51 percent for the year ended July 31. But increases in the value of stock and options awards compensated for the decrease and Smith ended up with a 3.4 percent increase in total compensation for fiscal 2009.
