Symantec 2013 Annual Report Download - page 57

EXECUTIVE COMPENSATION AND RELATED INFORMATION
COMPENSATION DISCUSSION & ANALYSIS (CD&A)
This compensation discussion and analysis describes the material elements of Symantec’s executive compen-
sation program for fiscal 2013. For fiscal 2013, our named executive officers (“NEOs”) include the following
current officers:
‰Stephen M. Bennett, President, Chief Executive Officer and Director
‰James A. Beer, Executive Vice President and Chief Financial Officer
‰Stephen E. Gillett, Executive Vice President and Chief Operating Officer
‰Francis A. deSouza, President, Products and Services
‰Scott C. Taylor, Executive Vice President, General Counsel and Corporate Secretary
Our NEOs also include, pursuant to applicable SEC rules, the following former executive officers:
‰Enrique Salem, former President and Chief Executive Officer
‰William T. Robbins, former Executive Vice President, Worldwide Sales and Services
‰Janice D. Chaffin, former Group President, Consumer Business Unit
Our Compensation Philosophy and Practices
The overriding principle driving our compensation programs continues to be our belief that it benefits our
employees, customers, partners and stockholders to have management’s compensation tied to our current and
long-term performance. The following factors demonstrate our continued commitment to pay-for-performance
and to corporate governance best practices:
‰We continued to diversify the long-term equity incentive compensation component of our regular annual
executive compensation program in furtherance of our philosophy to pay for performance and align the
interests of our executive officers with those of our stockholders. After introducing performance-based
restricted stock units (“PRUs”), which derive their value in part on a relative measure of our stock price,
as a regular part of our program last year, in fiscal 2013 we introduced compensation performance-
contingent stock units (“PCSUs”), which derive their value solely on the basis of increases in our stock
price, as part of the compensation package for our new CEO.
‰We reward outstanding performance that meets our performance goals, and do not payout performance-
based cash or equity awards for unmet goals. Our compensation plans do not have guaranteed payout lev-
els, and are capped to discourage excessive or inappropriate risk taking by our executive officers. For
example, our executives did not receive a payout under our FY13 LTIP since our minimum operating cash
flow target was not achieved during fiscal 2013 as further described on page 60.
‰We continue to grant PRUs to our named executive officers as a regular part of our annual executive
compensation program. We do not award any simple time-vesting stock options to our executives.
‰We ensure that our various incentive plans use different measures which correlate to stockholder value so
that no single metric becomes overly weighted in determining payouts.
‰We narrowed our peer group to be more relevant in terms of complexity, global reach, revenue and mar-
ket capitalization. We selected primarily businesses with an intense software development focus, and
software and engineering-driven companies that compete with us for executive and broader talent.
‰We have long-standing stock ownership guidelines for our executive officers, requiring them to hold a
minimum value in shares so that they have an even greater financial stake in our company, thereby further
aligning the interests of our executive officers with those of our stockholders. We also prohibit the sale of
any shares (except to meet tax withholding obligations) if doing so would cause them to fall below the
required ownership levels.
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