Symantec 2015 Annual Report Download - page 42

‰We seek stockholder feedback on our executive compensation through an annual advisory vote and
ongoing stockholder engagement.
Summary of Compensation Matters During Fiscal 2015
Business Changes and Performance in Fiscal 2015
Fiscal 2015 was a transformative year for our company:
‰After conducting a broad and thorough search, the Board appointed Michael Brown, our then-serving
interim President and CEO, the Company’s President and CEO on September 24, 2014.
‰On October 9, 2014, we announced plans to separate our business into two independent companies: one
focused on security and one focused on information management.
‰We hired five new executives, who bring valuable skills in analytics, backup and recovery software, sales,
security, strategy, and human resources.
‰While undergoing significant leadership transitions and allocating substantial resources to internal ini-
tiatives in connection with the separation of our business into two independent companies, we improved
our profitability and laid the foundation for future growth by achieving our profitability targets, focusing
on returning to growth, and right-sizing our cost structure;
‰We returned nearly $1.0 billion of cash to our stockholders in fiscal 2015: (a) paying quarterly cash divi-
dends of $0.15 per share of common stock for a total of $413 million to stockholders; and
(b) repurchasing 21 million shares of our common stock for an aggregate amount of $500 million.
Financial and Compensation Metrics, Performance Achievement and Incentive Plan Earnings
During fiscal 2015, we used three core financial operating metrics as well as total shareholder return
(“TSR”) relative to the S&P 500 to assess company performance and determine incentive compensation amounts
earned by our officers. The operating metrics used in our executive compensation programs are: non-GAAP
operating income, non-GAAP revenue and non-GAAP earnings per share (“EPS”). These metrics were selected
because we believe they are strongly correlated to enterprise value for companies in our sector and promote the
appropriate behaviors for our leadership team while driving company performance. For a significant portion of
the long-term equity incentive compensation component of our core executive compensation program, we also
used two other metrics that more directly align the interests of our executive officers to those of our stockholders:
our stock price and TSR ranking for our company as compared to the S&P 500. In addition, individual perform-
ance was a factor in the potential annual incentive awards of our named executive officers, other than our CEO,
under our Executive Annual Incentive Plan.
For our fiscal 2015 incentive plans, performance and resulting earning levels are as follows:
Incentive Plan Fiscal 2015 Performance Incentive Award Outcome
FY15 Executive Annual
Incentive Plan ‰Our non-GAAP operating income(1)
was $1,853 million, which was 97.3%
achievement of the targeted perform-
ance level; and our non-GAAP rev-
enue was $6,649 million, which was
98.7% achievement of the targeted
performance level.
‰Our non-GAAP operating income
metric funded at 82% of target
and non-GAAP revenue funded at
88% of target.
‰Our NEOs received strong
individual performance ratings
that resulted in total payouts of
85% - 119% of targets
Fiscal 2015 PRU Grants ‰Our non-GAAP EPS(1) was 99.8% of
our targeted performance level of
$1.96 for the full fiscal year
‰98.3% of the targeted number of
shares are eligible to be earned,
subject to modification on final
shares earned based on
Symantec’s 2- and 3-year relative
TSR versus the S&P 500
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