ITEM 8.01 OTHER EVENTS
In June 2009, Stephen M. Bennett, a board member of Intuit, adopted a stock trading plan related to the exercise and sale of up to 500,000 shares issuable under options granted in February 2001, which expire in February 2011. Pursuant to this plan, a brokerage firm may exercise Mr. Bennett's stock options and sell the issued shares before the expiration date of the option. The exercise and sale transactions under this plan will only be executed if the market price of Intuit stock exceeds certain limit prices set forth in the plan.
This plan is intended to satisfy the requirements of Rule 10b5-1 of the Exchange Act and was adopted in accordance with Intuit's policies regarding securities transactions. Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock.
Transactions under this plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission, to the extent required by law.