Autodesk 2012 Annual Report Download - page 34
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28
Elements of Executive
Compensation Program Purpose
Base Salary Base salary provides fixed annual cash compensation set at a competitive
level that recognizes the scope, responsibility and skills required of
the position.
Base salary compensation is a reliable source of income for our executive
officers, an important part of retaining our executive officers, and is not
subject to the variability of the short-term cash incentive and long-term
equity incentive components of our executive compensation programs.
Short-term Cash Incentive Plan
and Sales Commissions
Our annual short-term cash incentive plan is intended to motivate and
reward participants to ensure Autodesk achieves its annual financial and
non-financial objectives as well as individual objectives.
Sales commissions are a portion of total targeted cash compensation
designed to motivate sales executives to achieve revenue and
contribution targets.
Long-term Incentives—Equity-
based Compensation
Equity incentive awards provide employees and executive officers the
opportunity to be rewarded for increases in our stock price, which we
believe aligns the interests of our employees and executive officers with
those of our stockholders.
•Stock options have historically been our primary equity incentive
vehicle and are intended to direct executive attention to the importance
of sustained, long-term growth and profitability.
•Restricted stock units are granted as an additional retention tool to
provide compensation to our executive officers despite the volatility
of our stock price. There has been a significant shift in the technology
industry toward greater use of RSUs and away from the use of stock
options. With this evolution, we submitted to our stockholders the 2012
Employee Stock Plan to allow for greater flexibility in granting RSUs
and performance stock units to our employees, including our executive
officers. Our stockholders approved the 2012 Employee Stock Plan
and we intend to move forward with a philosophy of using RSUs and
performance stock units as a vehicle for long-term incentives.
Both stock options and RSUs are commonly used equity awards in the
software and technology industry, and have become integral components of
competitive compensation in our industry.
Vesting periods are generally three years (in the case of RSUs) and four
years (in the case of stock options), and encourage employees and executive
officers to remain with the Company and focus on longer-term results.
Benefits/Perquisites Benefit programs include medical, 401(k) matching, non-qualified deferred
compensation plan, life insurance, paid time off and leaves of absence.
We also provide for supplementary non-core benefits to accommodate
regulatory, cultural and/or practical differences in the different geographies
in which we have operations.