Symantec 2007 Annual Report Download - page 106

ESPP. In July 2004, the Board of Directors eliminated this provision. As of March 31, 2007, 14.2 million shares
remain available for issuance under the ESPP.
Subject to certain limitations, our employees may elect to have 2% to 10% of their compensation withheld
through payroll deductions to purchase shares of common stock under the ESPP. Employees purchase shares of
common stock at a price per share equal to 85% of the fair market value on the purchase date at the end of each six-
month purchase period. For purchases prior to July 1, 2005, employees purchased shares at a price equal to the lesser
of 85% of the fair market value as of the beginning of the two-year offering period or the end of the six-month
purchase period. The Board of Directors eliminated the two-year offering period in March 2005, effective July 1,
2005. Under the ESPP, 4 million, 4 million, and 3 million shares were issued during fiscal 2007, 2006, and 2005,
respectively, representing $65 million, $59 million, and $32 million in contributions, respectively. As of March 31,
2007, a total of 24.4 million shares had been issued under this plan.
Stock award plans
2000 Director Equity Incentive Plan
In September 2000, our stockholders approved the 2000 Director Equity Incentive Plan and reserved
50,000 shares of common stock for issuance thereunder. In September 2004, stockholders increased the number
of shares of stock that may be issued by 50,000. The purpose of this plan is to provide the members of the Board of
Directors with an opportunity to receive common stock for all or a portion of the retainer payable to each director for
serving as a member. Each director may elect to receive 50% to 100% of the retainer to be paid in the form of stock.
As of March 31, 2007, a total of 78,727 shares had been issued under this plan and 21,273 shares remained available
for future issuance.
2004 Equity Incentive Plan
Under the 2004 Equity Incentive Plan, or the 2004 Plan, our Board of Directors, or a committee of the Board of
Directors, may grant incentive and nonqualified stock options, stock appreciation rights, restricted stock units,
RSUs, or restricted stock awards to employees, officers, directors, consultants, independent contractors, and
advisors to us, or to any parent, subsidiary, or affiliate of ours. The purpose of the 2004 Plan is 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 of stock options and stock bonuses.
Under the terms of the 2004 Plan, the exercise price of stock options may not be less than 100% of the fair market
value on the date of grant. Options generally vest over a four-year period. Options granted prior to October 2005
generally have a maximum term of ten years and options granted thereafter generally have a maximum term of
seven years.
As of March 31, 2007, we have reserved 73 million shares for issuance under the 2004 Plan. These shares
include 18 million shares originally reserved for issuance under the 2004 Plan upon its adoption by our stockholders
in September 2004, 15 million shares that were transferred to the 2004 Plan from the 1996 Equity Incentive Plan, or
1996 Plan, and 40 million shares that were approved for issuance on the amendment and restatement of the 2004
Plan at our 2006 annual meeting of stockholders. In addition to the shares currently reserved under the 2004 Plan,
any shares reacquired by us from options outstanding under the 1996 Plan upon their expiration will also be added to
the 2004 Plan reserve. As of March 31, 2007, 52 million shares remain available for future grant under the 2004
Plan.
At our 2006 annual meeting of stockholders, our stockholders approved the amendment and restatement of the
2004 Plan, which included the following key changes: 1) an increase of 40 million in the number of shares reserved
for issuance under the 2004 Plan; 2) modification of the share pool available under the 2004 Plan to reflect a ratio-
based pool, where the grant of each full-value award, such as a share of restricted stock or an RSU decreases the pool
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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)