Form 4: Autodesk Director Stephen D. Milligan Reports Acquisition of Restricted Stock Units

Stephen D. Milligan, a director at Autodesk, Inc., reported the acquisition of restricted stock units (RSUs) as part of director compensation.

Summary

• On July 16, 2024, Stephen D. Milligan, a director of Autodesk, Inc., acquired 354 and 984 shares of common stock in the form of Restricted Stock Units (RSUs).
• These RSUs were granted under the 2022 Equity Incentive Plan and Director Compensation Policy in lieu of cash compensation.
• The RSUs vest on the date of the next annual meeting.
• Following these transactions, Milligan directly owns 1,338 shares of unvested Restricted Stock Units and indirectly owns 9,556 shares through a trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns director interests with shareholders.

Positives

• The acquisition of RSUs aligns the director's interests with those of the shareholders.
• The grant of RSUs in lieu of cash compensation can help preserve the company's cash reserves.

Future Outlook

The RSUs will vest on the date of the next annual meeting.

Industry Context

Director compensation in the form of stock and options is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Granting restricted stock units (RSUs) to directors is a common practice among publicly traded companies, including Autodesk's peers such as Adobe (ADBE) and Microsoft (MSFT).
• These companies often use equity-based compensation to align the interests of directors with those of shareholders and to conserve cash.
• The vesting schedules for RSUs typically range from immediate vesting to vesting over several years, with Autodesk's vesting on the next annual meeting being a relatively short timeframe.

Stakeholder Impact

• The acquisition of RSUs aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Next Steps

• The RSUs will vest on the date of the next annual meeting.

Key Dates