Autodesk Inc
For the period ended Jan 31, 2024. Filed Jun 14, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jan 31, 2024 · Filed Jun 14, 2024
Contents
Pay versus Performance
Under rules adopted pursuant to the Dodd-Frank Act, we are required to disclose certain information about the relationship between the compensation actually paid (“CAP”) as determined under the rules to our named executive officers and certain measures of company performance for the fiscal years listed below. The material that follows is provided in compliance with these rules; however, additional information regarding our compensation philosophy, the structure of our performance-based compensation programs, and compensation decisions made this year is described above in our "Compensation Discussion and Analysis". The Committee did not consider the pay versus performance disclosure below in marking its pay decisions for any of the fiscal years shown.
The following table provides information regarding compensation actually paid to our principal executive officer, or PEO, and other NEOs (“non-PEO NEOs”) for each year from fiscal year 2021 to fiscal year 2024, compared to our total shareholder return (“TSR”) from January 31, 2020 through the end of each such fiscal year, and our net income and total revenue for each such year.
| Value of initial fixed $100 investment based on | ||||||||
|---|---|---|---|---|---|---|---|---|
| FiscalYear | Summary compen-sation table total for PEO ($) (1) (2) | Compensation actually paid to PEO ($) (1) (3) | Average summary compensation table total for non-PEO NEOs ($) (4) | Average compensation actually paid to non-PEO NEOs ($) (5) | Total shareholder return ($) (6) | Peer group total shareholder return ($) (7) | Net income ($ Millions) (8) | Total Revenue ($ Millions) (9) |
| 2024 | 20,649,951 | 23,632,808 | 5,452,336 | 6,185,238 | 128.94 | 173.04 | 906 | 5,497 |
| 2023 | 17,600,752 | 15,542,087 | 4,323,694 | 2,883,990 | 109.30 | 115.56 | 823 | 5,005 |
| 2022 | 22,095,521 | 15,981,576 | 7,276,639 | 6,198,352 | 126.89 | 145.21 | 497 | 4,386 |
| 2021 | 15,756,363 | 22,691,528 | 5,241,569 | 7,688,009 | 140.93 | 139.40 | 1,208 | 3,790 |
(1)Our PEO was Andrew Anagnost for each of the fiscal years 2024, 2023, 2022, and 2021.
(2)The dollar amounts reflect the total compensation reported for Dr. Anagnost for each listed fiscal year in the “Total” column of the Summary Compensation Table.
(3)The dollar amounts reflect the compensation actually paid to Dr. Anagnost for each listed fiscal year as calculated in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Dr. Anagnost during the applicable year and don’t mean that he will even earn or be paid those amounts, but reflect adjustments made to the total compensation as reported in the Summary Compensation Table in accordance with the requirements of Item 402(v) of Regulation S-K as shown in the table below:
| 2024 ($) | 2023 ($) | 2022 ($) | 2021 ($) | |||
| Summary Compensation Table Total | 20,649,951 | 17,600,752 | 22,095,521 | 15,756,363 | ||
|---|---|---|---|---|---|---|
| Subtract Grant Date Fair Value of Stock Awards Granted in Fiscal Year | 17,938,989 | 16,494,632 | 21,095,069 | 13,559,493 | ||
| Add Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | 20,942,343 | 18,075,662 | 17,057,737 | 22,582,547 | ||
| Adjust for Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | 1,181,376 | (947,027) | (903,469) | 2,169,455 | ||
| Add Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | — | — | — | — | ||
| Adjust for Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | (1,201,873) | (2,692,668) | (1,173,144) | (4,257,344) | ||
| Subtract Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | — | — | — | — | ||
| Add Value of Dividends or other Earnings Paid on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation | — | — | — | — | ||
| Compensation Actually Paid | 23,632,808 | 15,542,087 | 15,981,576 | 22,691,528 |
(4)The dollar amounts reflect the average of the total compensation reported for our non-PEO NEOs in the “Total” column of the Summary Compensation Table for each applicable fiscal year. The names of the non-PEO NEOs in each year are listed in the table below.
| 2024 | 2023 | 2022 |
|---|---|---|
| Deborah L. Clifford | Deborah L. Clifford | Deborah L. Clifford |
| Steven M. Blum | Steven M. Blum | Steven M. Blum |
| Ruth Ann Keene | Ruth Ann Keene | Pascal W. Di Fronzo |
| Rebecca Pearce | Rebecca Pearce | — |
| — | Pascal W. Di Fronzo | — |
(5)The dollar amounts reflect the average of compensation actually paid to our non-PEO NEOs, as calculated in accordance with Item 402(v) of Regulation S-K, for each listed fiscal year. The dollar amounts do not reflect the actual amount of compensation earned by or paid to non-PEO NEOs during the applicable year and don’t mean that they will even earn or be paid those amounts, but reflect adjustments made to the total compensation as reported in the Summary Compensation Table in accordance with the requirements of Item 402(v) of Regulation S-K as shown in the table below:
50 | AUTODESK, INC.
| 2024 ($) | 2023 ($) | 2022 ($) | 2021 ($) | |||
| Summary Compensation Table Total | 5,452,336 | 4,323,694 | 7,276,639 | 5,241,569 | ||
|---|---|---|---|---|---|---|
| Subtract Grant Date Fair Value of Stock Awards Granted in Fiscal Year | 4,314,029 | 3,306,500 | 6,581,321 | 4,510,231 | ||
| Add Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | 4,850,099 | 3,553,148 | 4,585,956 | 7,083,063 | ||
| Adjust for Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | 546,724 | (477,049) | (204,333) | 719,882 | ||
| Add Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | — | — | 1,327,011 | — | ||
| Adjust for Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | (349,892) | (1,156,448) | (205,600) | (846,274) | ||
| Subtract Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year (10) | — | (52,855) | — | — | ||
| Add Value of Dividends or other Earnings Paid on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation | — | — | — | — | ||
| Compensation Actually Paid | 6,185,238 | 2,883,990 | 6,198,352 | 7,688,009 |
(6)Total shareholder return is calculated by assuming that a $100 investment was made on the day prior to the first fiscal year reported below and all dividends were reinvested until the last day of each reported fiscal year.
(7)For purpose of this peer group disclosure, we have used the S&P North American Technology Software Index, as used in the Company's performance graph in our annual report on Form 10-K. Total shareholder return is calculated by assuming that a $100 investment was made on the day prior to the first fiscal year reported below and all dividends were reinvested until the last day of each reported fiscal year.
(8)The dollar amounts reported are the Company's net income reflected in the Company’s audited financial statements.
(9)In the Company's assessment, total revenue is the financial performance measure that is the most important financial performance measure (other than total shareholder return and net income) used by the Company to link compensation actually paid to performance. Please see the “Compensation Discussion and Analysis” section above for a further discussion of revenue and how it is utilized in our executive compensation program. The dollar amounts reported represent the Company’s total revenue as reflected in the Company’s audited financial statements.
(10)Reflects the value of the awards that Mr. Di Fronzo forfeited after his departure in fiscal year 2023.
Tabular List of Performance Measures
The four items listed below represent the most important metrics we used to link performance actually paid to our NEOs, for fiscal year 2024, to company performance. Among other things, these measures were generally used to determine the EIP payouts and the PSU payouts for NEOs in fiscal year 2024 as further described in our “Compensation Discussion and Analysis” within the sections titled “Annual Short-Term Incentive Compensation” and “Long-Term Incentive Compensation.”
Total revenue
Non-GAAP income from operations
Free cash flow
Relative TSR measured against companies in the S&P North American Technology Software Index
Relationship between CAP and Company TSR as well as Peer Group TSR
The graph below reflects the relationship between the PEO and Average Non-PEO NEO CAP and the Company’s cumulative Total Shareholder Return, or TSR, (assuming an initial fixed investment of $100) for the fiscal years ended January 31, 2021, January 31, 2022, January 31, 2023, and January 31, 2024. The graph also shows the cumulative indexed TSR of the S&P North American Technology Software Index.
Relationship between CAP and Net Income
The graph below reflects the relationship between the PEO and Average Non-PEO NEOs CAP and the Company’s Net Income for the last four completed fiscal years.
52 | AUTODESK, INC.
Relationship between CAP and Total Net Revenue
The graph below compares the PEO and Non-PEO NEOs’ CAP to the Company’s Total Net Revenue for the last four completed fiscal years.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.