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Intuit CEO's Pay Rose 17.4 Percent

Brad Smith, IntuitIntuit's non-equity incentive plan boosted compensation for most of Intuit's named executives by double digits for the year ended July 31. CEO Brad Smith had the sharpest increase from that plan, a 60-percent increase that pushed his total compensation 17.3 percent higher than in fiscal 2015.

Smith was given compensation of $18.8 million in the most recently ended year, up from slightly more than $16 million in fiscal 2015. He received $2.3 million from the incentive plan, a rise from $1.5 million. Stock awards represented the biggest source of pay in both years: $11.6 million in 2016, a 12-percent increase from $10.4 million for the prior year. He received option awards last year valued at $3.9 million, a rise of 22.1 percent, from $3.2 million a year earlier.

That category yielded $11.6 million last year, an increase of 12 percent from $10.4 million the prior year.

Daniel Wernikoff, EVP of the Consumer Tax Group had the second largest increase. His compensation rose to $10.1million, an increase of 22.1 percent from $8.9 million in 2015. He received significant increases in all of the categories mentioned and also saw his base salary jump to $725,000, up 20.8 percent from $600,000 the prior year.

The result of the raises was to bring Wernikoff's pay more in line with that of Sasan Goodarzi, EVP of Intuit's Small Business Group, who received total compensation of $10.2 million, up 10 percent from $9.3 million the prior year. Goodarzi's base salary was also increased to $725,000, rising from 11.5 percent from $650,000 annually.

The two men swapped jobs in May. Both are long-time employees. Wernikoff joined Intuit in 2003; Goodarzi in 2004, although he left the company in 2010 to briefly serve as CEO of Nexant, returning in 2011. He served as Intuit's CIO before becoming head of Consumer Tax in August 2013.

The salary amounts used here reflect figures in SEC documents for 2015 and 2016. Wernikoff and Goodarzi received increases at the time of the job change so the move to $725,000 represented a 3.4-percent salary increase for each.

Among the other executives, chief technology officer Tayloe Stansbury, who just completed his second year as a named executive, received compensation of $7.3 million for fiscal 2016, a rise of 10 percent from $6.3 million.

CFO Neil Williams had only a slight increase in compensation, which hit $7.94 million, up slightly from the prior year. The compensation committee had declared his performance—and the performances of the other four executives—to be outstanding. However, his $7.88 million in compensation for 2015, was 39.5 percent higher than in 2014.

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