Symantec 2015 Annual Report Download - page 160
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retainer payable to each director for serving as a member. Each director may elect any portion up to 100% of the
retainer to be paid in the form of stock. As of April 3, 2015, a total of 135,000 shares have been issued under this
plan and 65,000 shares remained available for future issuance.
2004 and 2013 Equity Incentive Plans
Under both the 2013 Equity Incentive Plan (“2013 Plan”) and the 2004 Equity Incentive Plan (“2004 Plan”)
(collectively “the Equity Plans”), the Company has granted incentive and nonqualified stock options, stock
appreciation rights, RSUs, restricted stock awards, and performance-based awards to employees, officers,
directors, consultants, independent contractors, and advisors to us. These may also be granted to any parent,
subsidiary, or affiliate of ours. The purpose of the Equity Plans has been to attract, retain, and motivate eligible
persons whose present and potential contributions are important to our success by offering them an opportunity
to participate in our future performance through equity awards. RSUs granted prior to November 2014 generally
vest over a four-year period, whereas RSUs granted thereafter generally vest over a three-year period.
Effective as of the first quarter of 2013, following Board of Directors’ approval, all RSUs and performance-
based awards granted under the Equity Plans have dividend equivalent rights (“DER”) which entitle participants
to the same dividend value per share as holders of Company’s Common Stock. The DER are to be paid in the
form of cash upon vesting for each share of the underlying award, and are subject to the same terms and
conditions as the underlying award.
Upon adoption, our stockholders approved and reserved 45 million shares of common stock for issuance
under the 2013 Plan. As of April 3, 2015, 24 million shares remained available for future grant. We use restricted
stock units as our primary equity awards and stock option activity is not material to the financial statements.
Stock-based compensation expense
The following table sets forth the total stock-based compensation expense recognized in our Consolidated
Statements of Income.
Year Ended
April 3,
2015
March 28,
2014
March 29,
2013
(In millions)
Cost of revenue $ 24 $ 19 $ 15
Sales and marketing 75 59 67
Research and development 65 48 50
General and administrative 31 30 32
Total stock-based compensation expense 195 156 164
Tax benefit associated with stock-based compensation expense (55) (45) (48)
Net stock-based compensation expense $ 140 $ 111 $ 116
82