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INTUIT EXEC PAY DROPS

Kiran PatelIt was a good year for their company for the period ended July 31, but not good enough as Intuit executives saw their pay drop. Total compensation for CEO Brad Smith was $11.5 million, down 11.7 percent from $13.9 million for fiscal 2010. Smith lost the most ground on option awards, receiving $1.3 million in that category for fiscal 2011, down from $3.1 million.

The value of his stock awards fell to $7.5 million from $8.5 million. However, his salary rose to $950,000 from $800,000 for fiscal 2010. CFO Neil Williams’ pay fell to just under $4 million, down from $4.9 million. The biggest drop was compensation for SVP Kiran Patel, who heads the small business group. That declined to $4.7 million, off 33 percent from $7.02 million in fiscal 2010. His option awards, which dropped to $2.6 million for fiscal 2011, down from $3.9 million while stock awards went down to just over $372,000 from $1.3 million. Daniel Maurer, SVP and head of the Consumer Group, received $3.78 million, a decrease from $3.86 million. New kid on the block, general counsel Laura Fennell, received $2.2 million in her first year as a named executive.

 

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