Autodesk Files 8-K on Financials and Executive Changes

TL;DR

Autodesk 8-K: Financials updated, execs shuffled. Watch for details.

AI Summary

Autodesk, Inc. filed an 8-K on November 25, 2024, reporting on its results of operations and financial condition. The filing also disclosed the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. Additionally, it included information regarding Regulation FD disclosure and financial statements and exhibits.

Why It Matters

This filing provides crucial updates on Autodesk's financial performance and significant changes in its leadership, which can impact investor confidence and strategic direction.

Risk Assessment

Risk Level: medium — The filing covers financial results and executive changes, which can introduce uncertainty and affect stock performance.

Key Players & Entities

• Autodesk, Inc. (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• November 25, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share ADSK The Nasdaq Global Select
• $650,000 — i will be paid an annual base salary of $650,000. He will be eligible to participate in
• $500,000 — i will receive a one-time cash bonus of $500,000, which will be subject to repayment if
• $10,250,000 — restricted stock units with a value of $10,250,000, $2,000,000 of which will vest in twelv
• $2,000,000 — tock units with a value of $10,250,000, $2,000,000 of which will vest in twelve months, $2
• $14,750,000 — performance stock units with a value of $14,750,000, to be granted on our next annual grant
• $11,750,000 — l grant date, approximately April 2025, $11,750,000 of which will vest in equal shares over
• $3,000,000 — al shares over a three-year period, and $3,000,000 of which will vest in 36 months, in eac

Filing Documents

• adsk-20241125.htm (8-K) — 54KB
• q325pressrelease.htm (EX-99.1) — 346KB
• autodeskcfoappointmentrele.htm (EX-99.2) — 12KB
• 0000769397-24-000175.txt ( ) — 572KB
• adsk-20241125.xsd (EX-101.SCH) — 2KB
• adsk-20241125_lab.xml (EX-101.LAB) — 21KB
• adsk-20241125_pre.xml (EX-101.PRE) — 12KB
• adsk-20241125_htm.xml (XML) — 3KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On November 26, 2024, Autodesk, Inc. ("Autodesk" or the "Company") issued a press release reporting financial results for the third fiscal quarter ended October 31, 2024. The press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. The exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Key Performance Metrics In order to help better understand Autodesk's financial performance, Autodesk uses several key performance metrics including billings, recurring revenue, and net revenue retention rate ("NR3"). These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue as these metrics are not intended to be combined with those items. Autodesk uses these metrics to monitor the strength of its recurring business. Autodesk believes these metrics are useful to investors because they can help in monitoring the long-term health of Autodesk's business. Autodesk's determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, Autodesk financial measures prepared in accordance with GAAP. Non-GAAP Financial Measures To supplement Autodesk's condensed consolidated financial statements presented on a GAAP basis, the press release furnished herewith as Exhibit 99.1 provides investors with certain non-GAAP measures, including but not limited to historical non-GAAP net earnings and historical and future non-GAAP net earnings per diluted share. For Autodesk's internal budgeting and resource allocation process and as a means t

02. Departure of Directors or Principal Officers; Election of Directors; Appointment

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. On November 25, 2024, the Company appointed Janesh Moorjani as Chief Financial Officer, effective as of December 16, 2024. Mr. Moorjani will serve as Autodesk's principal financial officer as of that date, replacing Elizabeth Rafael who had been serving as interim Chief Financial Officer since May 31, 2024. Ms. Rafael will serve as an advisor to the Company through the end of fiscal 2025 and will continue to serve on Autodesk's Board of Directors, resuming her status as an independent director following the transition period and end of her employment by the Company as specifically contemplated by Nasdaq rules. Mr. Moorjani, age 52, has served as Chief Financial Officer of Elastic NV ("Elastic"), a software company for search-powered solutions, since August 2017 and assumed the additional responsibilities of Chief Operations Officer in May 2022. Prior to joining Elastic, Mr. Moorjani served in various executive and senior leadership, finance and sales positions at Infoblox, VMware, Cisco, PTC, and Goldman Sachs. Mr. Moorjani holds a Bachelor of Commerce degree from the University of Mumbai and an M.B.A. from the Wharton School of the University of Pennsylvania. There are no family relationships between Mr. Moorjani and any director, executive officer, or person nominated or chosen by Autodesk to become a director or executive officer of Autodesk. Mr. Moorjani is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Autodesk and Mr. Moorjani entered into an offer letter, the material terms of which are as follows: Mr. Moorjani will be paid an annual base salary of $650,000. He will be eligible to participate in the Autodesk Executive Incentive Plan ("EIP"). Mr. Moorjani's EIP target will be set at 90% of his base salary. Mr. Moorjani also will be eligible to participate in the Autodesk Executive Change

01. Regulation FD Disclosures

Item 7.01. Regulation FD Disclosures. On November 26, 2024, Autodesk posted supplemental investor materials on its investors.autodesk.com website. Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor Autodesk's investor relations website in addition to following Autodesk's press releases, SEC filings and public conference calls and webcasts. The information in this current report on Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated as of N ovember 26 , 2024 99.2 Press release Chief Financial Officer appointment 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUTODESK, INC. By: /s/ STEPHEN W. HOPE Stephen W. Hope Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) Date: November 26, 2024