Symantec 1999 Annual Report Download - page 79

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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements, Continued
65
million shares had remained available under the 89 Plan.
On September 17, 1998, Symantec stockholders approved the 1998 Employee Stock Purchase Plan (the “98 Plan”).
The terms of the 98 Plan are substantially similar to the terms of the 89 Plan for which it supersedes and makes
available 500,000 shares. As of March 31, 1999, no shares had been issued under the 98 Plan.
Stock Award Plans
During fiscal 1996, we registered 400,000 shares to be issued under the terms of the 1994 Patent Incentive Plan. The
purpose of this plan is to increase awareness of the importance of patents to our business and to provide employees
with incentives to pursue patent protection for new technologies that may be valuable to Symantec. Our executive
officers are not eligible for awards under the 1994 Patent Incentive Plan. As of March 31, 1999, a total of 21,351
shares had been issued under this plan.
In March 1998, the Board of Directors approved the terms of the 1998 Star Award Bonus Plan, under which Symantec
may grant up to 5,000 shares of common stock to employees who perform exceptionally in a given quarter. Directors
and executive officers are not eligible to receive awards under this plan. Stock awards under this plan are recorded as
compensation expense at the time of issuance. The Board of Directors reserved 20,000 shares of common stock for
issuance under this plan. As of March 31, 1999, a total of 1,300 shares had been issued under this plan.
Stock Option Plans
Symantec maintains stock option plans pursuant to which an aggregate total of approximately 22.3 million shares of
common stock have been reserved for issuance as incentive and nonqualified stock options to employees, officers,
directors, consultants, independent contractors and advisors to the Company (or of any parent, subsidiary or affiliate of
the Company as the Board of Directors or committee may determine). The purpose of these plans are 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 the Symantec’s future performance through awards of stock options and stock bonuses.
Under the terms of these plans, the option exercise price may not be less than 100% of the fair market value on the date
of grant, the options have a maximum term of ten years and generally vest over a four-year period.
On May 14, 1996, Symantec stockholders approved the 1996 Equity Incentive Plan and a total of approximately 6.7
million shares of common stock had been reserved for issuance under this plan. On September 17, 1998, stockholders
approved an amendment to increase the number of shares reserved for issuance by approximately 2.3 million to 9.0
million shares. As of March 31, 1999, a total of 7.8 million had been issued under this plan.