Summary
This 10-Q filing for Intuit Inc. (INTU) as of January 30, 2003, provides updates on legal proceedings, changes in securities, corporate governance matters, and executive changes. Investors should note the preliminary approval of a settlement in the 'In re Intuit Privacy Litigation,' which the company states is not material to its financial position. The filing also details amendments to the stockholder rights plan, increasing the exercise price of rights to purchase preferred stock. Furthermore, it outlines the results of the Annual Stockholders' Meeting, including votes on director elections and the approval of various equity incentive plans and the appointment of Ernst & Young LLP as auditors. A significant executive change is the appointment of Robert B. Henske as the new Senior Vice President and Chief Financial Officer, succeeding Greg J. Santora.
Key Highlights
- 1Preliminary settlement approved for 'In re Intuit Privacy Litigation', terms deemed not material to Intuit's financials.
- 2Stockholder rights plan amended to increase the exercise price for preferred stock purchase rights from $83.33 to $300.
- 3Shareholders approved amendments to equity incentive plans (2002 Equity Incentive Plan, 1996 Employee Stock Purchase Plan, 1996 Directors Stock Option Plan) to increase share availability.
- 4Ernst & Young LLP ratified as Intuit's independent auditors for fiscal year 2003.
- 5Robert B. Henske appointed as Senior Vice President and Chief Financial Officer, replacing retiring Greg J. Santora.
- 6All incumbent directors were re-elected.
- 7Senior Executive Incentive Plan adopted.