8-KLeadership Changes

Autodesk, Inc. 8-K Report, Executive Changes (Dec 3, 2021)

Filed December 3, 2021For Securities:ADSK

Summary

This 8-K filing from Autodesk, Inc. (ADSK) details an amendment to the retirement agreement for Pascal W. Di Fronzo, Executive Vice President, Corporate Affairs, Chief Legal Officer & Secretary. Originally set to retire on December 3, 2021, Mr. Di Fronzo has agreed to extend his tenure with the company until May 9, 2022. This extension provides continuity in his critical roles as the company navigates its business operations and strategic initiatives.

Key Highlights

  • 1Pascal W. Di Fronzo, EVP, Corporate Affairs, Chief Legal Officer & Secretary, has extended his retirement date from December 3, 2021, to May 9, 2022.
  • 2The extension ensures continued leadership and institutional knowledge in key corporate functions during the extended period.
  • 3Mr. Di Fronzo will receive benefits consistent with an "Eligible Employee" for a "Qualified Retirement" as defined by the company's Severance Plan.
  • 4In addition to standard retirement benefits, Mr. Di Fronzo will receive a payment of $467,030 for foregone benefits.
  • 5The amendment to the retirement agreement aims to provide a smooth transition and maintain operational stability.

Frequently Asked Questions

The filing indicates an agreement was reached for Mr. Di Fronzo to remain with the company until May 9, 2022, extending his original retirement date of December 3, 2021. While specific reasons for the extension are not detailed, it likely ensures continued leadership and a smoother transition for his responsibilities as Chief Legal Officer and Secretary.

The amendment outlines that Mr. Di Fronzo will receive standard retirement benefits as defined by the company's Severance Plan. Additionally, there is a specific payment of $467,030 to compensate him for foregone benefits due to this extension. Investors should consider this as an additional, specific cost related to executive transition.

Yes, based on the filing, Mr. Di Fronzo's extended tenure through May 9, 2022, implies he will continue to serve in his capacity as Executive Vice President, Corporate Affairs, Chief Legal Officer & Secretary during this period, ensuring continuity in these vital roles.