Steven Blum
AutodeskAbout Steven Blum
Steven M. Blum is Executive Vice President and Chief Operating Officer of Autodesk (ADSK), a role he has held since November 1, 2022. He joined Autodesk in January 2003 and previously led Worldwide Field Operations and Sales; prior roles include EVP/Chief Revenue Officer and SVP, Worldwide Sales and Services . He is 60 years old . During FY2025, Autodesk grew revenue 12% to $6.131B with strong free cash flow; company-wide EIP funded at 97.2% and PSU tranches paid at 108%, 95%, and 104%, indicating alignment of incentive outcomes with performance and TSR modifiers (1-year TSR +19%) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Autodesk | EVP & COO | Nov 2022 – Present | Oversees operations and go-to-market execution; follows prior leadership of global field operations . |
| Autodesk | EVP, Worldwide Field Operations; SVP Worldwide Field Operations | 2017 – 2021 | Led sales/field transformation through subscription and new transaction model phases . |
| Autodesk | SVP, Worldwide Sales & Services; SVP, Americas Sales | 2003 – 2017 | Drove regional/global sales; scaled subscription and industry collections adoption . |
| Parago, Inc. | EVP, Sales & Account Mgmt | Pre-2003 | Commercial leadership; enterprise accounts . |
| Mentor Graphics | VP, Americas Sales | Pre-2003 | Regional sales leadership . |
| NCR; Advanced Micro Devices | Engineering and sales roles | Pre-2003 | Early career technical and sales experience . |
External Roles
- None disclosed in company filings for Steven M. Blum .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Base salary ($) | $700,000 | $700,000 |
| Target bonus (% of salary) | 80% | 90% |
Performance Compensation
Annual cash incentive (EIP) – FY2025 company scorecard and Blum payout
| Metric | Weight | Target (millions) | Actual (millions) | Attainment % | Funding | Weighted funding |
|---|---|---|---|---|---|---|
| Total Revenue | 60% | $6,224 | $6,131 | 98.5% | 95.0% | 57.0% |
| Non-GAAP Income from Operations | 40% | $2,222 | $2,231 | 100.4% | 100.6% | 40.2% |
| Total | 100% | — | — | — | — | 97.2% |
- Blum’s FY2025 EIP payout: $612,360 on a $630,000 target (97.2% of target) .
Long-term equity – design, grants, and vesting
- Program design FY2025: 60% PSUs, 40% RSUs; PSUs measured on Total Revenue (60%) and Free Cash Flow (40%) with 1-, 2-, 3‑year Relative TSR modifiers; payout 0–200% of target .
- FY2025 annual grant (April/July 2024) to Blum: Target $8,000,000; 18,752 target PSUs and 12,501 RSUs .
- FY2025 PSU tranche results (companywide), applied to Blum’s outstanding tranches:
- FY2022 grant (3rd tranche): 104% of target; Blum earned 6,041 vs 5,809 target .
- FY2023 grant (2nd tranche): 95% of target; Blum earned 7,116 vs 7,491 target .
- FY2025 grant (1st tranche): 108% of target; Blum earned 6,751 vs 6,251 target .
- RSU vesting cadence: three equal annual installments (e.g., March 27, 2025 for FY2024/2025 cycles) .
Forward changes effective FY2026 (governance/retention implications)
- PSUs: replace FCF with “Non-GAAP Income from Operations less Stock‑Based Compensation”; adopt a single 3‑year TSR window; move to 3‑year cliff vesting .
- Temporary RSU vest: 50% per year over two years for FY2026–27 grants to smooth earnings during PSU shift .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 36,167 shares; includes 35,519 held indirectly in trust; <1% of shares outstanding (214,297,198) . |
| Outstanding unvested equity (1/31/2025) | PSUs/RSUs unvested with market value totals shown by grant: e.g., 19,252 (PSUs, $5.99M); 12,501 (RSUs, $3.89M); plus earlier tranches (see filing for full line items) . |
| Shares vested in FY2025 | 27,120 shares vested; value realized $7,073,502 . |
| Ownership guidelines | 3x base salary for senior executives; all NEOs met guidelines as of last review . |
| Hedging/pledging | Prohibited: no hedging, no pledging, no margin accounts for executives/directors . |
| Clawback | Dodd‑Frank/Nasdaq compliant policy for recovery of excess incentive comp after restatements; additional misconduct-based clawback remains in effect . |
Employment Terms
| Program/Agreement | Key terms |
|---|---|
| Severance Plan (non‑CIC) | If terminated without cause/for good reason: cash = 1.5x (base + target bonus); 12 months RSU acceleration; PSUs continue for 12 months pro‑rata subject to actual performance; 12 months COBRA cash; outplacement . |
| Qualified retirement | Similar benefits; includes pro‑rated bonus and 18x COBRA cash; continued vesting for 12 months RSUs/PSUs; available upon meeting age/service rules . |
| Executive CIC Program (double‑trigger) | If within 60 days pre‑ or 12 months post‑CIC terminated w/o cause/for good reason: 1.5x (base + target bonus) plus pro‑rated target bonus; full acceleration of options/RSUs; PSUs vest at target; 18 months medical/dental premiums (no excise tax gross‑ups) . |
| Anti‑hedging/pledging | Prohibited (see above) . |
Estimated payments for Steven M. Blum (hypothetical separation on 1/31/2025)
| Scenario | Severance | Pro‑rata bonus | Equity (accel/continue) | Health/other | Total |
|---|---|---|---|---|---|
| Voluntary termination (non‑retirement) | $1,995,000 | $630,000 | $11,069,348 | $73,234 | $13,767,582 |
| Involuntary not for cause / good reason (non‑CIC) | $1,995,000 | $630,000 | $11,069,348 | $48,823 | $13,743,171 |
| CIC double‑trigger | $1,995,000 | $630,000 | $21,331,771 | $44,453 | $24,001,224 |
| Disability | — | — | $21,331,771 | $1,440,210 (disability/AD&D) | $24,771,981 |
| Death | — | — | $21,331,771 | $2,000,000 (AD&D) + $2,000,000 (life) | $25,331,771 |
Notes: Values use $311.34 ADSK close on 1/31/2025 and assume target for PSUs where applicable per plan mechanics .
Multi-year Compensation (Summary)
| Component ($) | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Salary | $704,586 | $704,005 | $705,364 |
| Stock awards (grant-date fair value) | $7,363,064 | $6,223,689 | $7,885,185 |
| Non-equity incentive plan (EIP) | — | $542,640 | $612,360 |
| All other compensation | $92,992 | $156,411 | $125,297 (includes $43,244 tax gross-ups) |
| Total | $8,160,642 | $7,626,745 | $9,328,206 |
Say‑on‑Pay and Governance Signals
- Say‑on‑pay approval: 82.1% at 2024 meeting; 89.5% at 2023 meeting .
- Leading practices: no option repricing; no CIC excise tax gross‑ups; significant at‑risk pay (91% for NEOs in FY2025); robust stock ownership; anti‑hedging/pledging; formal clawback policy .
Compensation Structure Analysis
- Shift toward performance: PSUs remain majority of LTI (60%) with TSR modifiers; FY2026 redesign tightens profitability focus by replacing FCF with “OpInc less SBC” and extends TSR horizon/vesting, improving long‑term alignment and retention .
- Cash vs equity mix: For NEOs, 83%+ long‑term equity and 91% variable in FY2025; Blum’s total comp primarily equity‑based, with modest base salary and EIP tied to revenue and non‑GAAP OpInc .
- Discretion: Committee applied no upward discretion; FY2025 EIP funded 97.2% based on scorecard .
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited (reduces misalignment risk) .
- Tax gross‑ups: No CIC excise tax gross‑ups; however, FY2025 “all other comp” includes limited tax gross‑ups on certain perquisites ($43,244 for Blum) .
- Clawback: Dodd‑Frank compliant plus pre‑existing misconduct clawback; mitigates restatement/misconduct risk .
Investment Implications
- Alignment: High at‑risk mix, TSR‑modified PSUs, and FY2026 shift to profitability‑sensitive metrics (OpInc less SBC) strengthen pay‑for‑performance and curb dilution from SBC—constructive for shareholders .
- Retention and overhang: Significant unvested equity (multi‑year PSU/RSU ladders) and 3‑year PSU cliff vesting (from FY2026) support retention; FY2025 stock vested of 27,120 shares indicates ongoing supply but within standard executive LTI monetization patterns .
- Downside protection: Double‑trigger CIC with target‑level PSU vesting and meaningful equity acceleration produces sizable CIC value ($24.0M estimate), typical for large‑cap software; monitor for transaction‑related incentives .