Symantec 2013 Annual Report Download - page 77

SUPPLEMENTARY POLICIES AND CONSIDERATIONS
We use several additional policies to ensure that the overall compensation structure is responsive to stock-
holder interests and competitive with the market. Specific policies include:
Stock Ownership Requirements
We believe that in order to align the interests of our executive officers with those of our stockholders, our
executive officers should have a financial stake in our company. We have maintained stock ownership require-
ments for our executive officers since October 2005. For fiscal 2013 our executive officers were required to hold
the following minimum number of shares:
‰CEO: 5x base salary
‰CFO: 3x base salary
‰Group Presidents and Executive Vice Presidents: 2x base salary
In July 2013, to further enhance the alignment between our executive officers’ and stockholders’ interests,
the Compensation Committee further modified the stock ownership requirements to increase the minimum levels
our COO and President, Products and Services are expected to hold starting in fiscal 2014:
‰CEO: 5x base salary
‰CFO, COO and President, Products and Services: 3x base salary
‰Executive Vice Presidents: 2x base salary
Stock options and unvested RSUs, PRUs and PCSUs do not count toward stock ownership requirements.
The executive officer is required to acquire and thereafter maintain the stock ownership required within four
years of becoming an executive officer of Symantec (or four years following the adoption date of these revised
guidelines). During the four-year transitional period, each executive officer must retain at least 50% of all net
(after-tax) equity grants until the required stock ownership level has been met.
As of March 29, 2013, Messrs. Bennett, Beer and Taylor have reached the stated ownership requirements
for fiscal 2013. Messrs. deSouza and Gillett have until July 2017 to meet the stated thresholds. See the table
below for individual ownership levels relative to the executive’s ownership requirement.
Named Executive Officer
Ownership
Requirement(1)
(# of shares)
Holdings as of
March 29, 2013
Stephen M. Bennett ........................................ 202,594 224,191
James A. Beer ............................................. 85,090 125,904
Stephen E. Gillett .......................................... 106,362 17,876
Francis A. deSouza ......................................... 85,090 45,196
Scott C. Taylor ............................................ 34,036 34,662
(1) Based on the closing price for a share of our common stock of $24.68 on March 29, 2013
Recoupment Policies (Clawbacks)
Since fiscal 2009, we have included provisions within our executive annual incentive plans to the effect that
we will seek reimbursement of excess incentive cash compensation if our financial statements are the subject of a
restatement due to error or misconduct. Our long-term incentive plans have contained such provisions since their
inception during fiscal 2008.
Insider Trading, Hedging and Pledging Policies
Our Insider Trading Policy prohibits all directors and employees from short-selling Symantec stock or
engaging in transactions involving Symantec-based derivative securities, including, but not limited to, trading in
Symantec-based option contracts (for example, buying and/or writing puts and calls). It also prohibits pledging
Symantec stock as collateral for a loan.
67