Autodesk 2014 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2014 Autodesk annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 184

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184

Proxy Materials
3UR[\6WDWHPHQW21
&25325$7(*29(51$1&(
$XWRGHVNLVFRPPLWWHGWRWKHKLJKHVWVWDQGDUGVRI
FRUSRUDWHHWKLFVDQGGLOLJHQWFRPSOLDQFHZLWKILQDQFLDO
DFFRXQWLQJDQGUHSRUWLQJUXOHV2XU%RDUGSURYLGHV
LQGHSHQGHQWOHDGHUVKLSLQWKHH[HUFLVHRILWV
UHVSRQVLELOLWLHV2XUH[HFXWLYHRIILFHUVRYHUVHHDVWURQJ
V\VWHPRILQWHUQDOFRQWUROVDQGFRPSOLDQFHZLWKFRUSRUDWH
SROLFLHVDQGDSSOLFDEOHODZVDQGUHJXODWLRQV2XU
HPSOR\HHVRSHUDWHLQDFOLPDWHRIUHVSRQVLELOLW\FDQGRU
DQGLQWHJULW\
&RUSRUDWH*RYHUQDQFH*XLGHOLQHV&RGH
RI%XVLQHVV&RQGXFWDQG(WKLFV
:HEHOLHYHWKHKLJKHVWVWDQGDUGVRIFRUSRUDWHJRYHUQDQFH
DQGEXVLQHVVFRQGXFWDUHHVVHQWLDOWRUXQQLQJRXUEXVLQHVV
HIILFLHQWO\VHUYLQJRXUVWRFNKROGHUVZHOODQGPDLQWDLQLQJ
RXULQWHJULW\LQWKHPDUNHWSODFH2YHUWKH\HDUVZHKDYH
GHYRWHGVXEVWDQWLDODWWHQWLRQWRWKHVXEMHFWRIFRUSRUDWH
JRYHUQDQFHDQGKDYHGHYHORSHG&RUSRUDWH*RYHUQDQFH
*XLGHOLQHVWKH³*XLGHOLQHV´7KH*XLGHOLQHVVHWIRUWKWKH
SULQFLSOHVWKDWJXLGHRXU%RDUG¶VH[HUFLVHRILWV
UHVSRQVLELOLW\WRRYHUVHHFRUSRUDWHJRYHUQDQFHPDLQWDLQ
LWVLQGHSHQGHQFHHYDOXDWHLWVRZQSHUIRUPDQFHDQGWKH
SHUIRUPDQFHRIRXUH[HFXWLYHRIILFHUVDQGVHWFRUSRUDWH
VWUDWHJ\
7KH%RDUGILUVWDGRSWHGWKH*XLGHOLQHVLQ'HFHPEHU
DQGKDVUHILQHGWKHPSHULRGLFDOO\VLQFHWKHQ)RUH[DPSOH
LQ0DUFKWKH%RDUGDPHQGHGWKH*XLGHOLQHVWR
SURYLGHIRUPDMRULW\YRWLQJLQGLUHFWRUHOHFWLRQVH[FHSWIRU
FRQWHVWHGHOHFWLRQV7KHDPHQGPHQWVDOVRSURYLGHG
WKDWWKH%RDUGZRXOGRQO\QRPLQDWHDGLUHFWRUZKRKDV
DOUHDG\VXEPLWWHGDUHVLJQDWLRQWKDWZLOOWDNHHIIHFWLIVXFK
GLUHFWRUIDLOVWRUHFHLYHDPDMRULW\YRWHDQGWKH%RDUG
DFFHSWVWKHUHVLJQDWLRQ,Q0DUFKWKH%RDUGDJDLQ
DPHQGHGWKH*XLGHOLQHVWRSURYLGHIRUDQRQ-H[HFXWLYH
&KDLUPDQRIWKH%RDUG,Q0DUFKWKH%RDUG
DPHQGHGWKH*XLGHOLQHVWRDPRQJRWKHUWKLQJVFOHDUO\
RXWOLQHWKH%RDUG¶VUHVSRQVLELOLW\IRURYHUVHHLQJ
$XWRGHVN¶VULVNPDQDJHPHQW,Q'HFHPEHUWKH
%RDUGDPHQGHGWKH*XLGHOLQHVWRDGGUHVVFKDQJHVLQD
GLUHFWRUVRFFXSDWLRQDPRQJRWKHUWKLQJV7KH*XLGHOLQHV
DUHDYDLODEOHRQRXUZHEVLWHDWZZZDXWRGHVNFRPXQGHU
³,QYHVWRU5HODWLRQV-&RUSRUDWH*RYHUQDQFH´
,QDGGLWLRQZHKDYHDGRSWHGD&RGHRI%XVLQHVV&RQGXFW
IRUGLUHFWRUVDQGHPSOR\HHVDQGD&RGHRI(WKLFVIRU
6HQLRU([HFXWLYHDQG)LQDQFLDO2IILFHUVLQFOXGLQJRXU
SULQFLSDOH[HFXWLYHRIILFHUSULQFLSDOILQDQFLDORIILFHU
SULQFLSDODFFRXQWLQJRIILFHUDOOVHQLRUYLFHSUHVLGHQWVDQG
DOOLQGLYLGXDOVUHSRUWLQJWRRXUSULQFLSDOILQDQFLDORIILFHU
WRHQVXUHWKDWRXUEXVLQHVVLVFRQGXFWHGLQDFRQVLVWHQWO\
OHJDODQGHWKLFDOPDQQHU2XUFXUUHQW&RGHRI%XVLQHVV
&RQGXFWDQG&RGHRI(WKLFVIRU6HQLRU([HFXWLYHDQG
)LQDQFLDO2IILFHUVDUHDYDLODEOHRQRXUZHEVLWHDW
ZZZDXWRGHVNFRPXQGHU³,QYHVWRU5HODWLRQV-&RUSRUDWH
*RYHUQDQFH´:HZLOOSRVWRQWKLVVHFWLRQRIRXUZHEVLWH
DQ\DPHQGPHQWWRRXU&RGHRI%XVLQHVV&RQGXFWRU&RGH
RI(WKLFVIRU6HQLRU([HFXWLYHDQG)LQDQFLDO2IILFHUVDV
ZHOODVDQ\ZDLYHUVRIWKHVH&RGHVWKDWDUHUHTXLUHGWREH
GLVFORVHGE\WKHUXOHVRIWKH6(&RU7KH1$6'$4*OREDO
6HOHFW0DUNHW³1$6'$4´
6WRFN2ZQHUVKLS*XLGHOLQHV
7KH%RDUGEHOLHYHVGLUHFWRUVDQGH[HFXWLYHRIILFHUVVKRXOG
KDYHDPHDQLQJIXOILQDQFLDOVWDNHLQWKH&RPSDQ\LQRUGHU
WRIXUWKHUDOLJQWKHLULQWHUHVWVZLWKWKH&RPSDQ\¶V
VWRFNKROGHUV7RWKDWHQGWKH%RDUGKDVDGRSWHG
PDQGDWRU\RZQHUVKLSJXLGHOLQHVIRUWKHGLUHFWRUVDQG
H[HFXWLYHRIILFHUV7KHVWRFNRZQHUVKLSJXLGHOLQHVSURYLGH
WKDWZLWKLQDIRXU-\HDUSHULRGH[HFXWLYHRIILFHUVVKRXOG
DWWDLQDQLQYHVWPHQWSRVLWLRQLQ$XWRGHVNVWRFNHTXDOWRD
IL[HGQXPEHURIVKDUHVGHSHQGLQJRQWKHLQGLYLGXDOV
VFRSHRIUHVSRQVLELOLWLHVDQGGLUHFWRUVVKRXOGDWWDLQDQ
LQYHVWPHQWSRVLWLRQLQ$XWRGHVNVWRFNRIDWOHDVW
VKDUHV7KH%RDUGUHYLHZVSURJUHVVDJDLQVWWKHVH
JXLGHOLQHVDQGUHTXLUHPHQWVDQQXDOO\DQGXSGDWHVWKHPDV
DSSURSULDWH6HH³([HFXWLYH&RPSHQVDWLRQ
&RPSHQVDWLRQ'LVFXVVLRQDQG$QDO\VLV´RQSDJHIRU
DGGLWLRQDOLQIRUPDWLRQUHJDUGLQJ$XWRGHVNVVWRFN
RZQHUVKLSJXLGHOLQHV
,QGHSHQGHQFHRIWKH%RDUG
$VUHTXLUHGE\DSSOLFDEOH1$6'$4OLVWLQJVWDQGDUGVD
PDMRULW\RIWKHPHPEHUVRIRXU%RDUGTXDOLI\DV
³LQGHSHQGHQW´7KH%RDUGKDVGHWHUPLQHGWKDWZLWKWKH
H[FHSWLRQRI&DUO%DVVRXU3UHVLGHQWDQG&KLHI([HFXWLYH
2IILFHUDOORILWVPHPEHUVDUH³LQGHSHQGHQWGLUHFWRUV´DV
WKDWWHUPLVGHILQHGE\DSSOLFDEOH1$6'$4OLVWLQJ
VWDQGDUGV7KDWGHILQLWLRQLQFOXGHVDVHULHVRIREMHFWLYH
WHVWVLQFOXGLQJWKDWWKHGLUHFWRULVQRWDQHPSOR\HHRIWKH
FRPSDQ\DQGKDVQRWHQJDJHGLQYDULRXVW\SHVRIEXVLQHVV
GHDOLQJVZLWKWKHFRPSDQ\,QDGGLWLRQDVIXUWKHUUHTXLUHG
E\DSSOLFDEOH1$6'$4OLVWLQJVWDQGDUGVWKH%RDUGKDV
PDGHDVXEMHFWLYHGHWHUPLQDWLRQDVWRHDFKLQGHSHQGHQW
GLUHFWRUWKDWQRUHODWLRQVKLSVH[LVWWKDWZRXOGLQWHUIHUHZLWK
WKHH[HUFLVHRILQGHSHQGHQWMXGJPHQWLQFDUU\LQJRXWWKH
UHVSRQVLELOLWLHVRIDGLUHFWRU
7KHLQGHSHQGHQWGLUHFWRUVPHHWUHJXODUO\LQH[HFXWLYH
VHVVLRQZLWKRXWH[HFXWLYHRIILFHUVSUHVHQWDVSDUWRIWKH
TXDUWHUO\PHHWLQJSURFHGXUH