Annual Report Notice of Annual Meeting and 2015 Proxy Statement
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FISCAL YEAR Annual Report Notice of annual meeting and 2015 proxy statement Autodesk, Inc., 111 McInnis Parkway, San Rafael, CA 94903 Autodesk is a registered trademark or trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2 015 Autodesk, Inc. All rights reserved. 279278_Autodesk_2015_CVR.indd 1 4/14/15 4:05 PM Board of Directors Company Executive Officers Corporate Headquarters Carl Bass Carl Bass Worldwide Headquarters President and Chief Executive Officer, President and Chief Executive Officer Autodesk, Inc. Autodesk, Inc. 111 McInnis Parkway Jan Becker San Rafael, CA 94903 Crawford W. Beveridge Senior Vice President, Human USA non-Executive Chairman of the Board, Resources and Corporate Real Estate Autodesk, Inc. Asia Pacific Headquarters Steven M. Blum Autodesk Asia Pte Ltd J. Hallam Dawson Senior Vice President, Worldwide 3 Fusionopolis Way Sales and Services #10-21 Symbiosis Thomas Georgens Singapore 138633 Pascal W. Di Fronzo Singapore Per-Kristian Halvorsen Senior Vice President, General Counsel and Secretary European Headquarters Mary T. McDowell Autodesk Development Sàrl R. Scott Herren Rue du Puits-Godet 6 Senior Vice President and Chief Case Postale 35 Lorrie M. Norrington Financial Officer 2002 Neuchâtel Switzerland Betsy Rafael Legal Counsel Stacy J. Smith Wilson Sonsini Goodrich & Rosati Steven M. West Professional Corporation 650 Page Mill Road Palo Alto, CA 94304 USA Transfer Agent Computershare Trust Company N.A. 350 Indiana Street, Suite 750 Golden, CO 80401 USA Independent Registered Public Accounting Firm Ernst & Young, LLP 560 Mission Street, Suite 1600 San Francisco, CA 94105 USA Notice of Annual Meeting Held at Autodesk, Inc.’s San Francisco office at The Landmark at One Market Street, 2nd Floor, San Francisco, California, USA, June 10, 2015, 3:00 p.m. Pacific time. Investor Relations For more information, including copies of this annual report free of charge, write to us at: Investor Relations, Autodesk, Inc., 111 McInnis Parkway, San Rafael, CA 94903, USA; Phone us at +1-415-507-6705; email us at [email protected]; or visit our website at: www.autodesk.com. 279278_Autodesk_2015_CVR.indd 2 4/14/15 4:05 PM April 28, 2015 Dear Autodesk Stockholder: You are cordially invited to attend Autodesk’s 2015 Annual Meeting of Stockholders to be held on Wednesday, June 10, 2015, at 3:00 p.m., Pacific Time, at our San Francisco office, The Landmark, One Market Street, 2nd Floor, San Francisco, California 94105. The 2015 Annual Meeting of Stockholders will be held for the following purposes: 1. To elect the ten directors listed in the accompanying Proxy Statement; erials at 2. To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending January 31, 2016; 3. To hold a non-binding vote to approve compensation for our named executive officers; M Proxy 4. To approve an amendment to the Autodesk, Inc. 2012 Employee Stock Plan to increase the number of shares reserved for issuance under the plan by 12.5 million shares; and 5. To transact such other business as may properly come before the Annual Meeting. The accompanying Notice of 2015 Annual Meeting of Stockholders and Proxy Statement describe these proposals in greater detail. We encourage you to read this information carefully. We are once again relying on the Securities and Exchange Commission rule that allows us to furnish our proxy materials to our stockholders over the Internet rather than in paper form. We believe this delivery process reduces both our environmental impact and the costs of printing and distributing our proxy materials without hindering our stockholders' timely access to this important information. We hope you will be able to attend this year's Annual Meeting. We will report on fiscal 2015, and there will be an opportunity for stockholders to ask questions. Even if you plan to attend the meeting, please ensure that you are represented by voting in advance. You can vote online or by telephone, or you can request, sign, date and return a proxy card, to ensure your representation at the meeting. Your vote is very important. On behalf of the Board of Directors, I would like to express our appreciation for your continued support of Autodesk. Very truly yours, Carl Bass President and Chief Executive Officer NOTICE OF 2015 ANNUAL MEETING OF STOCKHOLDERS Time and Date Wednesday, June 10, 2015, at 3:00 p.m., Pacific Time. Place Autodesk’s San Francisco office, located at The Landmark, One Market Street, 2nd Floor, San Francisco, California 94105. Items of Business (1) To elect the ten directors listed in the accompanying Proxy Statement to serve for the coming year and until their successors are duly elected and qualified. (2) To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending January 31, Proxy M Proxy 2016. (3) To hold a non-binding vote to approve compensation for our named executive officers. at erials (4) To approve an amendment to the Autodesk, Inc. 2012 Employee Stock Plan to increase the number of shares reserved for issuance under the plan by 12.5 million shares. (5) To transact such other business as may properly come before the Annual Meeting. These items of business are more fully described in the Proxy Statement accompanying this Notice of 2015 Annual Meeting of Stockholders. Adjournments and Postponements Any action on the items of business described above may be considered at the Annual Meeting at the time and on the date specified above or at any time and date to which the Annual Meeting is properly adjourned or postponed. Record Date You are entitled to vote if you were a stockholder as of the close of business on April 13, 2015. Voting Your vote is very important. Even if you plan to attend the Annual Meeting, we encourage you to read the Proxy Statement and to vote. You can vote online or by telephone, or you can request, sign, date and return your proxy card as soon as possible. For specific instructions on how to vote your shares, please refer to the section entitled “Questions and Answers About the 2015 Annual Meeting and Procedural Matters” beginning on page 1 of the Proxy Statement and the instructions on the Notice of Internet availability of proxy materials. All stockholders are cordially invited to attend the Annual Meeting. If you attend the Annual Meeting, you may vote in person by ballot even if you previously voted. By Order of the Board of Directors, Pascal W. Di Fronzo Senior Vice President, General Counsel and Secretary This notice of Annual Meeting, Proxy Statement and accompanying form of proxy card are being made available on or about April 28, 2015. TABLE OF CONTENTS Page QUESTIONS AND ANSWERS ABOUT THE 2014 ANNUAL MEETING AND PROCEDURAL MATTERS 1 Stock Ownership, Quorum and Voting 1 2015 Annual Meeting 1 2012 Employee Plan and Equity Compensation at Autodesk 7 Stockholder Proposals and Director Nominations at Future Meetings 8 Additional Information About the Proxy Materials 9 Important Notice Regarding the Availability of Proxy Materials for the Stockholders Meeting to be Held on June 10, 2015 10 erials at PROPOSAL ONE—ELECTION OF DIRECTORS 11 Nominees 11 Information and Qualifications 11 M Proxy PROPOSAL TWO—RATIFICATION OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 17 Principal Accounting Fees and Services 17 Pre-Approval of Audit and Non-Audit Services 18 PROPOSAL THREE—NON-BINDING VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION 19 Past Say-on-Pay Votes, Stockholder Outreach and Actions Taken 19 Executive Compensation Policies and Practices 19 Compensation Guiding Principles 20 Vote Recommendation 21 PROPOSAL FOUR - APPROVAL OF THE AMENDMENT TO THE 2012 EMPLOYEE STOCK PLAN 22 Background and Purpose 22 The Importance of the Proposed Increase in Shares for Autodesk, our Employees and Stockholders 22 Significant Historical Award Information 23 Dilution and Stock Repurchase Program 24 Equity Compensation Governance Practices 25 Vote Recommendation 26 Description of the 2012 Plan 27 New Plan Benefits 31 Options Granted to Certain Persons 32 Equity Compensation Plan Information 32 Federal Tax Aspects 32 CORPORATE GOVERNANCE 34 Corporate Governance Guidelines; Code of Business Conduct and Ethics 34 Stock Ownership Guidelines 34 Independence of the Board 35 Board Meetings and Board Committees 35 Board Leadership Structure 36 Risk Oversight 37 Compensation Committee Interlocks and Insider Participation 37 Nominating Process for Recommending Candidates for Election to the Board 37 Attendance at Annual Stockholders Meetings by Directors 38 Contacting the Board 38 EXECUTIVE COMPENSATION 39 Compensation Discussion and Analysis 39 Proxy M Proxy Executive Summary 39 The Compensation-Setting Process 44 Competitive Compensation Positioning 45 Principal Elements of the Executive Compensation Program 46 at Report of the Compensation Committee erials 56 Summary Compensation Table and Narrative Disclosure 56 Grants of Plan-Based Awards in Fiscal 2015 58 Outstanding Equity Awards at Fiscal 2015 Year End 60 Option Exercises and Stock Vested at Fiscal 2015 Year End 61 Nonqualified Deferred Compensation for Fiscal 2015 61 Change in Control Arrangements and Employment Agreements 62 Potential Payments Upon Termination or Change in Control 63 Compensation of Directors 67 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 70 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 72 Review, Approval or Ratification of Related Person Transactions 72 SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE 72 REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS 72 OTHER MATTERS 73 APPENDIX A - AUTODESK, INC.