intu-202305040000896878false00008968782023-05-042023-05-04
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
May 4, 2023
Date of Report (Date of earliest event reported):
INTUIT INC.
(Exact Name of Registrant as Specified in its Charter)
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| Delaware | | 000-21180 | | 77-0034661 |
(State or other Jurisdiction
of Incorporation) | | (Commission
File Number) | | (I.R.S. Employer
Identification No.) |
2700 Coast Avenue, Mountain View, CA 94043
(Address of principal executive offices, including zip code)
(650) 944-6000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| | Title of Each Class | | Trading Symbol | | Name of Exchange on Which Registered |
| | Common Stock, $0.01 par value | | INTU | | Nasdaq Global Select Market |
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 4, 2023, the Board of Directors (the “Board”) of Intuit Inc. (the “Company”) appointed Ryan Roslansky and Eric S. Yuan as directors of the Company, and the number of directors constituting the full Board was increased from nine to eleven. Mr. Roslansky was appointed to serve on the Acquisition Committee and Mr. Yuan was appointed to serve on the Audit and Risk Committee and the Nominating and Governance Committee of the Board.
Each of Mr. Roslansky and Mr. Yuan 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 5, 2023. The compensation of the Company’s non-employee directors is determined by the Board and disclosed in our 2022 proxy statement, which was filed with the Securities and Exchange Commission on November 23, 2022. There are no arrangements or understandings between either new director and any other persons pursuant to which he was selected as a director, and there are no transactions involving the Company and either 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 appointments of Mr. Roslansky and Mr. Yuan is attached hereto as Exhibit 99.01.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
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| 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.
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| Date: | May 4, 2023 | | INTUIT INC. |
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| | | By: | | /s/ Kerry J. McLean |
| | | | | Kerry J. McLean |
| | | | | Executive Vice President, General Counsel and Corporate Secretary |
Intuit Appoints Ryan Roslansky, CEO of LinkedIn, and Eric S. Yuan, CEO and Founder of Zoom, to its Board of Directors
New directors will support Intuit’s growth as leading financial technology platform
Mountain View, CA, May 4, 2023 — Today, Intuit Inc.(NASDAQ: INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced that it has appointed Ryan Roslansky, CEO of LinkedIn, and Eric S. Yuan, CEO and founder of Zoom Video Communications, to its board of directors.
“We are proud to welcome two incredible leaders to our board. Both Ryan and Eric are experts in building and scaling global technology platforms that are part of our everyday lives,” said Sasan Goodarzi, president and CEO of Intuit. “Their unique perspectives and expertise will guide Intuit as we continue to scale to power prosperity around the world.”
Roslansky joined LinkedIn in 2009 and held leadership roles across the company before he was named its CEO in 2020. He led the evolution of LinkedIn’s products into a single, holistic, global ecosystem of more than 930 million members, 63 million companies, 131,000 schools, and 40,000 skills. Prior to LinkedIn, Roslansky was senior vice president of product at Glam Media, and held various product and general management positions at Yahoo!, including spearheading the acquisition of Overture in 2003. He also brings with him prior public company board experience.
"Building products that connect people and businesses to opportunity is something I think about every day," said Roslansky. "It's why I'm so excited and honored to be working with the Intuit team and to be part of its culture of innovation committed to helping its customers thrive and grow."
Yuan founded Zoom Video Communications in 2011 and now serves as CEO. He was an early employee at WebEx, a web conferencing company that was acquired by Cisco in 2007. Yuan brings his experience leading and scaling a public company from zero to greater than $4 billion in revenue in fewer than 12 years. He also brings expertise in security, customer experience, and product innovation to Intuit. Yuan was named the 2020 Time Businessperson of the Year for enabling a new way of working, and he was included in the Time 100 Most Influential People of 2020.
Yuan said, “I have always admired Intuit’s innovative culture and its focus on customer experience. I founded Zoom to build a platform that is simple, yet powerful, and I feel that Intuit has the same philosophy. It is my pleasure to join the board of directors and work alongside Sasan and the team.”
With the addition of Roslansky and Yuan, Intuit’s board now has 11 directors.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With more than 100 million customers worldwide using 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.