INTU 8-K
Intuit Inc. (INTU)
8-K
2024-05-02
For: 2024-05-02
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Added on
April 10, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact Name of Registrant as Specified in its Charter)
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
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(650 ) 944-6000
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On May 2, 2024, the Board of Directors (the “Board”) of Intuit Inc. (the “Company”) appointed Vasant Prabhu as a director of the Company, and the number of directors constituting the full Board was increased from 11 to 12. Mr. Prabhu was appointed to serve on the Acquisition Committee and the Audit and Risk Committee of the Board.
Mr. Prabhu will receive compensation for services as a non-employee director of the Company consistent with the compensation generally provided to other non-employee directors of the Company. This compensation includes a grant of restricted stock units with a grant date fair value of approximately $173,333 on May 3, 2024. The compensation of the Company’s non-employee directors is determined by the Board and disclosed in the Company's 2023 proxy statement, which was filed with the Securities and Exchange Commission on November 22, 2023. There are no arrangements or understandings between the new director and any other person pursuant to which he was selected as a director, and there are no transactions involving the Company and the new director that the Company would be required to report pursuant to Item 404(a) of Regulation S-K.
A copy of the press release announcing the appointment of Mr. Prabhu is attached hereto as Exhibit 99.01.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
| 99.01 | ||||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | May 2, 2024 | INTUIT INC. | |||||||||||||||
| By: | /s/ Kerry J. McLean | ||||||||||||||||
| Kerry J. McLean | |||||||||||||||||
| Executive Vice President, General Counsel and Corporate Secretary | |||||||||||||||||
Exhibit 99.01
Intuit Appoints Vasant Prabhu, Former CFO and Vice Chairman of Visa, to its Board of Directors
Prabhu's financial services expertise will support Intuit’s financial technology leadership
MOUNTAIN VIEW, Calif. - May 2, 2024 - Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced that it appointed Vasant Prabhu, former Chief Financial Officer and Vice Chairman of Visa, to its board of directors.
“We are excited to welcome Vasant to our board. He has deep expertise in financial services innovation and building a global technology and payments platform,” said Sasan Goodarzi, CEO of Intuit. “His leadership experience as CFO of large public companies, expanding financial technology and services, and scaling businesses internationally, will help guide Intuit's next chapter of growth as we power prosperity around the world.”
Prabhu served as chief financial officer and vice chairman of Visa Inc. from 2015 and 2019, respectively, to 2023. During his tenure, he played a critical role in Visa’s transformation and its payments ecosystem. Prior to that, he served as chief financial officer of NBCUniversal Media, LLC, chief financial officer and vice chairman of Starwood Hotels and Resorts Worldwide, Inc., and executive vice president and chief financial officer of Safeway, Inc. Prabhu brings deep expertise in financial services, international growth and expansion, and technology and security capabilities.
"I've long admired Intuit’s focus on innovation and how the company continues to transform itself to better serve its customers," said Prabhu. "I'm honored to work alongside Sasan and the leadership team as they execute on the exciting opportunities ahead."
With the addition of Prabhu, Intuit’s board now has 12 directors.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
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