Form 3 — Intuit Executive Holdings: Options and Performance RSUs
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Intuit officer Hilliard Caryl Lyn reports direct ownership of 20,456.629 shares of Intuit common stock and holds multiple stock option grants and restricted stock unit (RSU) awards. The options span grants exercisable through 2027–2032 with exercise prices listed in the filing, while RSUs include time‑based and performance‑based awards that vest on scheduled dates and may pay 0–200% of target depending on total shareholder return performance.
Positive
- Direct ownership of 20,456.629 shares indicates executive equity stake aligning interests with shareholders.
- Diverse equity compensation mix (time‑based RSUs, performance RSUs, and multi‑year options) supports both retention and pay‑for‑performance incentives.
Negative
- None.
Insights
TL;DR: Routine insider disclosure showing executive equity ownership and multi‑year incentive alignment with shareholders.
The Form 3 documents direct beneficial ownership of 20,456.629 shares and a portfolio of non‑qualified stock options and restricted stock units. Options have staggered exercisability and multi‑year expirations, while RSUs include both time‑based schedules and performance‑based awards that vest subject to total shareholder return targets. This is a standard officer disclosure that increases transparency about executive compensation and potential dilution from outstanding awards.
TL;DR: Compensation mix combines equity retention and performance incentives, not an unusual arrangement for a senior executive.
The reporting person holds multiple option grants (quantities and strike prices are specified) and several RSU tranches, including performance‑based awards with 0–200% payout potential and defined vesting dates. Time‑based RSUs vest according to quarterly schedules; certain matching and purchased awards are noted as fully vested on grant or vest upon termination/three‑year settlement. The disclosure clarifies award types and vesting mechanics relevant to pay‑for‑performance assessment.
Insider Trade Summary
21 transactions reported
Mixed
21 txns
Insider
Hilliard Caryl Lyn
Role
EVP, People and Places
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Non-Qualified Stock Options (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Options (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Options (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Options (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Options (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Options (right to buy) | -- | -- | -- |
| holding | Restricted Stock Units (performance-based vesting) | -- | -- | -- |
| holding | Restricted Stock Units (performance-based vesting) | -- | -- | -- |
| holding | Restricted Stock Units (performance-based vesting) | -- | -- | -- |
| holding | Restricted Stock Units (performance-based vesting) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units (MSPP Matching Award) | -- | -- | -- |
| holding | Restricted Stock Units (MSPP Matching Award) | -- | -- | -- |
| holding | Restricted Stock Units (MSPP Matching Award) | -- | -- | -- |
| holding | Restricted Stock Units (MSPP Purchased Award) | -- | -- | -- |
| holding | Restricted Stock Units (MSPP Purchased Award) | -- | -- | -- |
| holding | Restricted Stock Units (MSPP Purchased Award) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-Qualified Stock Options (right to buy) — 418 shares (Direct);
Restricted Stock Units (performance-based vesting) — 3,586 shares (Direct);
Restricted Stock Units — 488 shares (Direct);
Restricted Stock Units (MSPP Matching Award) — 106 shares (Direct);
Restricted Stock Units (MSPP Purchased Award) — 111 shares (Direct);
Common Stock — 20,456.629 shares (Direct)
Footnotes (1)
- 25% of the 4,008 options granted on 7/30/2020 vested on 7/30/2021 and thereafter 2 1/12% of the options vest on each monthly anniversary of the first vesting date until 100% vested. 25% of the 4,421 options granted on 7/29/2021 vested on 7/29/2022 and thereafter 2 1/12% of the options vest on each monthly anniversary of the first vesting date until 100% vested. 25% of the 6,399 options granted on 7/28/2022 vested on 7/28/2023 and thereafter 2 1/12% of the options vest on each monthly anniversary of the first vesting date until 100% vested. 25% of the 5,962 options granted on 7/27/2023 vested on 7/27/2024 and thereafter 2 1/12% of the options vest on each monthly anniversary of the first vesting date until 100% vested. 25% of the 4,641 options granted on 7/25/2024 vested on 7/25/2025 and thereafter 2 1/12% of the options vest on each monthly anniversary of the first vesting date until 100% vested. 25% of the 7,617 options granted on 7/24/2025 vest on 7/24/2026 and thereafter 2 1/12% of the options vest on each monthly anniversary of the first vesting date until 100% vested. Represents vesting date for restricted stock units (performance-based vesting). Restricted stock units do not expire; they either vest or are canceled prior to vesting date. The target number of units subject to the award is presented in the table; the number that vest may be 0-200% of this number ("awarded units"), depending upon performance. Following the achievement by the issuer of certain total shareholder return objectives, the awarded units will vest on 9/1/2025. Vested Restricted Stock Units will be paid in an equal number of shares of Intuit Inc. common stock. 1-for-1 The target number of units subject to the award is presented in the table; the number that vest may be 0-200% of this number ("awarded units"), depending upon performance. Following the achievement by the issuer of certain total shareholder return objectives, the awarded units will vest on 9/1/2026. Vested Restricted Stock Units will be paid in an equal number of shares of Intuit Inc. common stock. The target number of units subject to the award is presented in the table; the number that vest may be 0-200% of this number ("awarded units"), depending upon performance. Following the achievement by the issuer of certain total shareholder return objectives, the awarded units will vest on 9/1/2027. Vested Restricted Stock Units will be paid in an equal number of shares of Intuit Inc. common stock. The target number of units subject to the award is presented in the table; the number that vest may be 0-200% of this number ("awarded units"), depending upon performance. Following the achievement by the issuer of certain total shareholder return objectives, the awarded units will vest on 9/1/2028. Vested Restricted Stock Units will be paid in an equal number of shares of Intuit Inc. common stock. 12.5% of the restricted stock units granted on 7/28/2022 vested on December 31, 2022 and thereafter 6.25% of the restricted stock units vest on each April 1, July 1, October 1, and December 31, until the award is fully vested. 12.5% of the restricted stock units granted on 7/27/2023 vested on December 31, 2023 and thereafter 6.25% of the restricted stock units vest on each April 1, July 1, October 1, and December 31, until the award is fully vested. 12.5% of the restricted stock units granted on 7/25/2024 vested on December 31, 2024 and thereafter 6.25% of the restricted stock units vest on each April 1, July 1, October 1, and December 31, until the award is fully vested. 12.5% of the restricted stock units granted on 7/24/2025 vest on December 31, 2025 and thereafter 6.25% of the restricted stock units vest on each April 1, July 1, October 1, and December 31, until the award is fully vested. 100% of the restricted stock units granted vest on 8/12/2025. 100% of the restricted stock units granted vest on 8/11/2026. 100% of the restricted stock units granted vest on 8/9/2027. Restricted stock units (MSPP Purchased Award) are fully vested upon grant; however, settlement occurs upon the earlier of termination of employment or three years from grant date.
FAQ
What securities does Hilliard Caryl Lyn report owning in INTU?
The reporting person reports 20,456.629 shares of Intuit common stock, multiple non‑qualified stock options (various grant dates, quantities and exercise prices) and numerous restricted stock units (time‑based, performance‑based, and MSPP awards).
Are any of the RSUs performance‑based and how are they measured for INTU?
Yes. Several RSUs are performance‑based with a target number shown and potential vesting from 0–200% of target depending on achievement of specified total shareholder return objectives.
How many stock options does the filing show and what are their expirations?
The filing lists multiple option grants totaling thousands of options with exercisability and expirations spanning 2027 through 2032; each grant includes the number of options and the stated exercise price in the disclosure.
Is this an individual filing or a joint filing for INTU Form 3?
This is a Form filed by one reporting person reporting individual beneficial ownership and awards.
What is the reporting person’s role at Intuit (INTU)?
The reporting person is identified as an Officer with the title EVP, People and Places.