Gary Strauss, USA TODAY writes: TurboTax software provider Intuit provided CEO Brad Smith some rock-solid pay gains this year, boosting his compensation 33%.
Intuit gave Smith 2014 fiscal year compensation valued at more than $16.5 million, including stock valued at $10.2 million, stock options worth $3.5 million, a $1.9 million incentive plan award and $1 million salary, according to the company's annual proxy statement, filed Wednesday. Smith received compensation valued at $12.46 million in 2013.
Smith also gained $4.76 million from previously awarded stock options and $7 million from vested shares. That's up more than 75% from the $6.7 million he gained from stock options and vested shares in 2013.
Intuit's total shareholder return was up 29.5% in its latest fiscal year and 22% for the past three years.
Smith, 50, joined Inuit in 2003 and was appointed CEO in January 2008.
Intuit's board of directors said that Smith had "delivered outstanding performance" on goals set for 2014, including revenue growth and overseeing the company's shift to cloud-based services.
Last week, the company reported that first -fiscal quarter 2015 revenue rose 8% to $672 million, but said losses widened to 10 cents a share from six cents in the year-ago quarter.
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