Autodesk 2016 Annual Report Download - page 45

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Proxy Materials
2016 Proxy Statement 39

subscriptions, and our annual TSR of 5.4%.
As a result of this analysis, the following equity awards were approved for NEOs in March 2015:
Target Number of Shares Subject to
PSU Award (#)
Number of Shares Subject to RSU
Award (#)
Carl Bass 81,000 54,000
R. Scott Herren(1) 36,000 N / A
Andrew Anagnost 18,500 18,500
Steve M. Blum 18,500 18,500
Amar Hanspal 18,500 18,500
(1) Mr. Herren received 36,000 RSUs upon joining the Company in November 2014 and 36,000 PSUs in March 2015 in
accordance with the terms of his offer letter.
PSU Awards
The current PSU design was adopted following extensive stockholder outreach and incorporates a number of features
stockholders identified as being most important, namely, multiple performance metrics, TSR relative to peers, and a multi-year
measurement period.
The PSU awards provide for a minimum, target and maximum number of shares to be earned based upon predetermined
performance criteria. For fiscal 2016 awards, PSU vesting will be contingent upon achievement of performance goals adopted
ter Software
-, two- and three-year performance periods. In fiscal 2016, we measured Performance
Results based on annual billings and subscriptions. The use of billings and subscriptions goals motivates management to drive
-term
interests of our stockholders.
The PSUs are split into three traunches:
x Up to one third of the PSUs may vest following year one, depending upon the achievement of Performance Results for year
one as well as 1-year Relative TSR (covering year one).
x Up to one third of the PSUs may vest following year two, depending upon the achievement of Performance Results for
year two as well as 2-year Relative TSR (covering years one and two).
x Up to one third of the PSUs may vest following year three, depending upon the achievement of Performance Results for
year three as well as 3-year Relative TSR (covering years one, two and three).
Performance Results for the relevant performance period could result in PSU attainment of 0% to 150% of target. Once the
Performance Results percentage is established, it is multiplied by a percentage ranging from 80% to 120%, depending on
r the period. The combined impact of these performance criteria is that PSUs could be earned from
0% to 180% of target. The chart below illustrates the attainment mechanics for the PSUs approved in fiscal 2016.