Symantec 2013 Annual Report Download - page 71

At the time award opportunities are established, there is no assurance that the amount of the target awards
will be realized. A participant must be an employee of the Company on the payment date to receive the payment,
creating a strong incentive for our executive officers to serve through the payment date for these awards. Subject
to certain limited exceptions, a participant who terminates his or her employment with the Company before the
payment date will not be eligible to receive the payment or any prorated portion thereof.
For fiscal 2013, our operating cash flow target was $1,919 million and we achieved actual operating cash
flows of $1,593, or 83% of our target, resulting in a zero payout under our FY13 LTIP.
Our named executive officers’ fiscal 2013 LTIP target awards, actual awards and total payout as percentage
of target opportunity are provided in the table below:
LTIP
Target ($)
LTIP
Actual
Award ($)
Payout
as % of
Target
Stephen M. Bennett ....................................... 750,000 — —
James A. Beer ........................................... 425,000 — —
Stephen E. Gillett ........................................ n/a(1) n/a n/a
Francis A. deSouza ....................................... 425,000 — —
Scott C. Taylor .......................................... 350,000 — —
Enrique Salem ........................................... 2,100,000(2) — —
William T. Robbins ....................................... 425,000(2) — —
Janice D. Chaffin ........................................ 425,000 — —
(1) Mr. Gillett did not participate in the FY13 LTIP.
(2) Messrs. Salem and Robbins would not have been eligible for an award since they were not employed with us
at the end of fiscal 2013.
IV. Equity Incentive Awards
The primary purpose of our equity incentive awards is to align the interests of our named executive officers
with those of our stockholders by rewarding the named executive officers for creating stockholder value over the
long-term. By compensating our executives with equity incentive awards, our executives hold a stake in the
Company’s financial future. The gains realized in the long term depend on our executives’ ability to drive the
financial performance of the Company. Equity incentive awards are also a useful vehicle for attracting and
retaining executive talent in our competitive talent market.
Our 2004 Equity Incentive Plan provides for the award of stock options, stock appreciation rights, restricted
stock, and restricted stock units (including PRUs and PCSUs). For fiscal 2013, the equity incentive component of
our executive compensation program consisted of PRUs and RSUs for all of our named executive officers and
PCSUs for our CEO (as described in more detail below, including under the Summary Compensation Table and
Grants of Plan-Based Awards table on pages 70 and 75, respectively). We also offer all employees the oppor-
tunity to participate in the 2008 Employee Stock Purchase Plan, which allows for the purchase of our stock at a
discount to the fair market value through payroll deductions. This plan is designed to comply with Section 423 of
the Code. During fiscal 2013, four of the named executive officers participated in the 2008 Employee Stock
Purchase Plan.
We seek to provide equity incentive awards that are competitive with companies in our peer group and the
other information technology companies that the Compensation Committee includes in its competitive market
assessment. As such, we establish target equity incentive award grant guideline levels for the named executive
officers based on competitive market assessments. When making annual equity awards to named executive offi-
cers, we consider corporate results during the past year, the role, responsibility and performance of the individual
named executive officer, the competitive market assessment described above, prior equity awards, and the level
of vested and unvested equity awards then held by each named executive officer. In making equity awards, we
also generally take into consideration gains recognizable by the executive from equity awards made in prior
years. Mercer provides the Compensation Committee with market data on these matters, as well as providing to
the Compensation Committee summaries of the prior grants made to the individual named executive officers.
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