Summary
This Form 8-K filing from Intuit Inc. (INTU) on September 2, 2011, primarily announces a significant event related to a major shareholder. Relational Investors LLC, a shareholder holding a substantial stake, has filed a Form 144, indicating their intention to sell up to 5,562,500 shares of Intuit common stock. This planned sale is subject to prevailing market conditions.
Key Highlights
- 1Relational Investors LLC, a significant Intuit shareholder, plans to sell up to 5,562,500 shares of common stock.
- 2The sale announcement was made via a Form 144 filing with the SEC.
- 3David H. Batchelder, a principal of Relational Investors LLC, is a member of Intuit's Board of Directors.
- 4Relational Investors LLC states the purpose of the sale is to diversify their investment portfolio.
- 5Despite the planned sale, Relational Investors LLC expressed continued confidence in Intuit and its future prospects.
- 6The event date reported is September 1, 2011, and the filing was made on September 2, 2011.