Symantec 2013 Annual Report Download - page 74

The following table summarizes the number of shares granted, value of each award and the total value of the
equity awards for each named executive officer as of the Grant Date (values of restricted stock unit awards are
based upon the closing price for a share of our common stock of $15.53 on May 10, 2012 for Messrs. Beer,
deSouza, Taylor, Salem and Robbins; $18.96 on September 10, 2012 for Mr. Bennett; and $19.94 on January 10,
2013 for Mr. Gillett).
Target
PRUs
(#)
PRU Value
at Grant
Date ($) RSUs (#)
RSU Value
at Grant
Date ($) PCSUs (#)
PCSUs
Value at
Grant
Date ($)
Total Target
Equity Incentive
Awards
Value at
Grant Date($)
Stephen M. Bennett ........ 115,000 2,410,400 115,000 2,180,400 450,000 6,156,000 10,746,800
James A. Beer ............ 40,000 664,000 40,000 621,200 — — 1,285,200
Stephen E. Gillett .......... (1) (1) 51,229 1,021,506 — — 1,021,506
Francis A. deSouza ........ 50,000 830,000 50,000 776,500 — — 1,606,500
Scott C. Taylor ............ 27,500 456,500 27,500 427,075 — — 883,575
Enrique Salem ............ 177,143 2,940,574 102,857 1,597,369 — — 4,537,943
William T. Robbins ........ 45,000 747,000 45,000 698,850 — — 1,445,850
Janice D. Chaffin .......... 30,000 498,000 30,000 465,900 — — 963,900
(1) Mr. Gillett did not receive a PRU grant due to his December 2012 start date.
Burn Rate and Dilution: We closely manage how we use our equity to compensate employees. We think
of “gross burn rate” as the total number of shares granted under all of our equity incentive plans during a period
divided by the weighted average number of shares of common stock outstanding during that period and
expressed as a percentage. We think of “net burn rate” as the total number of shares granted under all of our
equity incentive plans during a period, minus the total number of shares returned to such plans through awards
cancelled during that period, divided by the weighted average number of shares of common stock outstanding
during that period, and expressed as a percentage. “Overhang” we think of as the total number of shares under-
lying options and awards outstanding plus shares available for issuance under all of our equity incentive plans at
the end of a period divided by the weighted average number of shares of common stock outstanding during that
period and expressed as a percentage. For purposes of these calculations, each full-value award grant (e.g.,
restricted stock unit and performance-based restricted stock unit) is treated as the equivalent of the grant of two
options in order to recognize the economic difference in the equity vehicle types. The Compensation Committee
determines the percentage of equity to be made available for our equity programs with reference to the compa-
nies in our market composite. In addition, the Compensation Committee considers the accounting costs that will
be reflected in our financial statements when establishing the forms of equity to be granted and the size of the
overall pool available. For fiscal 2013, our gross burn rate was 3.37%, our net burn rate was 0.93%, and our
overhang was 17.95%.
Equity Grant Practices: The Compensation Committee generally approves grants to the named executive
officers at its first meeting of each fiscal year, or shortly thereafter through subsequent action. The grant date for
all equity grants made to employees, including the named executive officers, is generally the 10th day of the
month following the applicable meeting. If the 10th day is not a business day, the grant is generally made on the
previous business day. The Compensation Committee does not coordinate the timing of equity awards with the
release of material, nonpublic information. RSUs may be granted from time to time throughout the year, but all
RSUs generally vest on either March 1, June 1, September 1 or December 1 for administrative reasons. PRUs are
currently granted once a year and vesting occurs only after a three-year performance period.
Change of Control and Severance Arrangements: The vesting of certain stock options, RSUs, PRUs and
PCSUs held by our named executive officers will accelerate if they experience an involuntary (including con-
structive) termination of employment under certain circumstances. In addition, payouts to our named executive
officers under our Long Term Incentive Plan will accelerate under certain circumstances. For additional
information about these arrangements, see “ — Other Benefits — Change of Control and Severance Arrange-
ments” below and “Potential Payments Upon Termination or Change in Control,” below.
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