Symantec 2015 Annual Report Download - page 54

two- and three-year periods. Unlike our restricted stock unit awards, the shares underlying the PRUs awarded for
fiscal 2015 are eligible to be earned only if we achieve a threshold of non-GAAP EPS. Depending on our
achievement of this metric, 0% to 133% of the target shares will be eligible to be earned at the end of fiscal 2016
and 2017, based on, and subject to further adjustment as a result of, the achievement of the TSR ranking for our
company as compared to the S&P 500. If any target shares become eligible (the “eligible shares”) to be earned in
fiscal 2016 and 2017 as a result of achievement of the non-GAAP EPS metric for fiscal 2015, then 50% to 150%
of one-half of the eligible shares may be earned based on the achievement of the TSR goal for the two years
ended April 1, 2016 and 50% to 150% of one-half of the eligible shares (plus any eligible shares not earned on
April 1, 2016 if less than 100% of the TSR goal is achieved for the two-year period then ended) may be earned
based on the achievement of the TSR goal for the three years ended March 31, 2017. Subject to certain
exceptions (including acceleration of vesting upon a change in control of our company under the terms of the
Symantec Executive Retention Plan, as amended), the award shall vest, if at all, only at the end of the third year
of the performance period (i.e., fiscal 2017), and the named executive officer must be employed by us at the end
of such period in order to vest in the award. The following table summarizes the foregoing discussion of thresh-
old, target and maximum performance levels and payouts at each level:
EPS Performance
as a Percentage
of Target (%)
EPS Payout
as a Percentage
of Target (%)
TSR Percentile
Rank against
S&P500
TSR Payout
as a Percentage
of Target (%)
Threshold Level Payout % ............... 70% 50% 35th 50%
Target Level Payout % ................. 100% 100% 50th 100%
Maximum Payout % ................... 120% 133% 75th 150%
For fiscal 2015, our non-GAAP EPS target under the PRUs was $1.96 per share. The Compensation Com-
mittee determined that we achieved 99.8% of this metric, resulting in 98.3% of the target shares becoming eligi-
ble to be earned based on achievement of the multi-year relative TSR performance goals under the PRUs.
Pursuant to the terms of these awards, each NEO will be eligible to receive at least half of the eligible shares if he
remains employed by Symantec through the last day of fiscal 2017 even if we fail to achieve those TSR perform-
ance goals, and could receive up to 150% of such shares, depending upon the degree to which we achieve of
those goals and the same employment condition is met.
Below is the summary of our PRU performance metrics achievements since fiscal 2013. The PRU awards
granted in fiscal 2013 finished the 3-year performance period at the end of fiscal 2015 resulting in an overall
payout of 70% of the target award level.
Non-GAAP EPS 2-Year TSR 3-Year TSR
Grant Year
Performance
as % of
Target
Eligible Shares
as % of Target
Shares
S&P 500
Percentile
Ranking
Payout
as % of
Targets
S&P 500
Percentile
Ranking
Payout
as % of
Targets
Overall
Payout
Fiscal 2013 Award ......... 108% 112% 17th 50% 27th 50% 70%
Fiscal 2014 Award ......... 99% 98% 11th 50% TBD
Fiscal 2015 Award ......... 99.8% 98.3% TBD
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