Autodesk, Inc. (NASDAQ:ADSK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Autodesk, Inc. (NASDAQ:ADSK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Election of Director

On December 13, 2018, the Board of Directors (the “Board”) of Autodesk, Inc. (the “Company”) appointed Stephen Milligan to the Board to fill a newly created seat. Mr. Milligan, age 55, has over 30 years of executive operational and financial leadership experience in the technology industry. Mr. Milligan has served as Western Digital Corporation’s chief executive officer since January 2013 and as its president from March 2012 to October 2015. Previously, Mr. Milligan served as the chief financial officer of Hitachi Global Storage Technologies (“HGST”) from 2007 to 2009, and as HGST’s chief executive officer from 2009 to 2012 when Western Digital acquired HGST. From January 2004 to September 2007, Mr. Milligan served as Western Digital’s chief financial officer after serving in other senior finance roles at Western Digital from September 2002 to January 2004. From April 1997 to September 2002, he held various financial and accounting roles of increasing responsibility at Dell Inc. and was employed at Price Waterhouse for 12 years prior to joining Dell. Mr. Milligan holds a Bachelor of Science degree in Accounting from Ohio State University. He sits on the boards of directors of Ross Stores, Inc. and Western Digital Corporation.

Mr. Milligan will participate in the non-employee director compensation arrangements described in the Company’s 2018 annual proxy statement filed with the Securities and Exchange Commission on May1, 2018. Under the terms of those arrangements, he will receive, among other things, annual compensation of $75,000 and a prorated initial restricted stock unit grant to acquire the equivalent of $123,973 of the Company’s common stock, which vests on the date of the Company’s next annual meeting of stockholders, under the Company’s 2012 Outside Directors’ Stock Plan. There are no arrangements or understandings between Mr. Milligan and any other persons to which Mr. Milligan was named a director of the Company. Mr. Milligan does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to be a director or executive officer. In addition, Mr. Milligan will execute the Company’s standard form of indemnification agreement. Mr. Milligan has not entered into any other material plan, contract, arrangement or amendment in connection with his appointment to the Board.

The Board appointed Mr. Milligan as a member of the Company’s Audit Committee, effective as of December 13, 2018. Mr. Milligan is not a party to any transaction required to be disclosed to Item404(a) of Regulation S-K.

On December 14, 2018, the Company issued a press release regarding the appointment of Mr. Milligan to the Board. The press release is attached as Exhibit99.1 hereto and is incorporated herein by reference.

Item 5.02. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

AUTODESK INC Exhibit
EX-99.1 2 pressrelease-autodeskappoi.htm PRESS RELEASE Exhibit Autodesk Press ReleaseInvestors: Abhey Lamba,…
To view the full exhibit click here

About Autodesk, Inc. (NASDAQ:ADSK)

Autodesk, Inc. (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries. It operates in four segments: Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E). The PSEB, AEC and MFG segments offer a range of services, including consulting, support and training. The M&E segment offers software products to professionals, post-production facilities and broadcasters for a range of applications. Its software products enable its customers to experience their ideas before they are real by allowing them to imagine, design and create their ideas and to visualize, simulate and analyze real-world performance in the design process by creating digital prototypes.

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