Symantec 2015 Annual Report Download - page 52

‰leadership qualities as well as functional competencies and knowledge for their area of responsibility; and
‰development and management of their team of employees.
Leadership skills are a common component to each of these objectives and are a significant factor in the
assessment of individual performance. The executive’s willingness to contribute to cross-functional initiatives
outside his or her primary area of responsibility, and the executive’s contribution to our company’s performance-
based culture, are also extremely important aspects of the individual performance assessment.
The CEO evaluates the performance level of each named executive officer’s performance against the pre-
determined goals following the end of fiscal year and then makes a recommendation to the Compensation
Committee. The Compensation Committee then reviews the CEO’s compensation recommendations for the other
named executive officers, makes any appropriate adjustments, and approves their compensation, if warranted.
Achievement of Fiscal Year 2015 Performance Metrics:
For fiscal 2015, our non-GAAP operating income target was $1,905 million and our non-GAAP revenue
target was $6,737 million. The Compensation Committee determined that we achieved 97.3% of the non-GAAP
operating income metric, resulting in 82% funding for that portion of the plan based on the plan target amount,
and 98.7% for the non-GAAP revenue metric, resulting in 88% funding for that portion of the plan based on the
plan target amount. For purposes of calculating achievement of these metrics, consistent with the presentation of
non-GAAP operating income in our quarterly supplemental materials, foreign exchange movements were held
constant at plan rates, pursuant to the terms of the plans.
For fiscal 2015, the individual performance payout level for Messrs. Seifert, Yelamanchili, Taylor and
Rosch reflected strong performance ratings as measured by the objectives for the key areas described above, with
a particular emphasis on their strong leadership skills that were demonstrated during our transformation in fiscal
2015. We did not assess the individual performance of Mr. Gillett, who was terminated in December 2014 as a
result of his role being eliminated in connection with the separation of the businesses. Pursuant to our Executive
Severance Plan, Mr. Gillett is entitled to receive 75% of his prorated annual incentive amount based on his
termination date of December 6, 2014. Our named executive officers’ fiscal 2015 annual incentive payout level
by performance metric, total payout as percentage of target opportunity and total payout amounts are provided in
the table below:
Non-GAAP
Operating
Income Funding (%)
Non-GAAP
revenue Funding (%)
Individual
Performance
Modifier
Funding (%)
Total Payout as
% of Target
Opportunity (%)
Payout
Amount ($)
Michael A. Brown .... 82 88 n/a 85 658,176
Thomas J. Seifert ..... 82 88 100 85 612,000
Balaji Yelamanchili . . . 82 88 115 97.8 342,125
Scott C. Taylor ....... 82 88 125 106.3 392,900
Francis C. Rosch ...... 82 88 140 119 409,715
Former Officer
Stephen E. Gillett ..... n/a n/a n/a 75 556,482*
* Mr. Gillett is entitled to receive pursuant to our Executive Severance Plan.
III. 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 the highly competitive market for talent in which we compete.
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