Symantec 2008 Annual Report Download - page 28

his restricted stock unit awards were forfeited during fiscal 2008. For additional information about assump-
tions used in valuing our equity compensation awards, refer to Note 15 of the financial statements in our
Form 10-K for the year ended March 28, 2008, as filed with the SEC.
(4) Messrs. Brown, Coleman, Dangeard, Mahoney, Miller, Reyes, Roux, Schulman, and Unruh were each granted
9,906 restricted stock units on May 2, 2007, with a per share fair value of $18.17 and a full grant date fair value
of $179,992. As of March 28, 2008, each of these non-employee directors held 9,906 outstanding restricted
stock units, with the exception of Mr. Roux. As Mr. Roux ceased serving as a director on September 13, 2007,
all of his RSUs were forfeited during fiscal year 2008.
(5) In lieu of cash, Messrs. Brown, Coleman, Mahoney, Reyes, Schulman and Unruh each received 50% of their
annual retainer fee of $50,000 in the form of our common stock. Accordingly, pursuant to the terms of the
2000 Director Equity Incentive Plan, they were each granted 1,402 shares at a per share fair value of $17.83,
and a full fair value of $24,997. The balance of Messrs. Brown’s, Coleman’s, Mahoney’s, Reyes’s, Schulman’s
and Unruh’s fees were paid in cash as reported in “Fees Earned or Paid in Cash” in the table above.
(6) In lieu of cash, Messrs. Dangeard, Miller, and Roux each elected to receive 100% of their annual retainer fee of
$50,000 in the form of our common stock. Accordingly, pursuant to the terms of the 2000 Director Equity
Incentive Plan, they were each granted 2,804 shares at a per share fair value of $17.83, and a full fair value of
$49,995. The balance of Messrs. Dangeard’s, Miller’s, and Roux’s fees were paid in cash and is reported in
“Fees Earned or Paid in Cash” in the table above.
(7) Because Ms. Laybourne was appointed to the Board after the beginning of the fiscal year, she was granted a
pro-rated award of 3,684 restricted stock units on January 2, 2008, with a per share fair value of $16.06 and a
full grant date fair value of $59,165. As of March 28, 2008, Ms. Laybourne held 3,684 outstanding restricted
stock units.
(8) Mr. Miller received an additional annual fee in the amount of $25,000 for his role as Lead Independent
Director.
(9) Amounts shown in this column reflect our accounting expense for these awards and do not reflect whether the
recipient has actually realized a financial benefit from the awards (such as by exercising stock options). This
column represents the dollar amount recognized for financial statement reporting purposes with respect to the
2008 fiscal year for the fair value of stock options granted to the directors. The fair value was estimated using
the Black-Scholes option pricing model in accordance with SFAS 123R. Pursuant to SEC rules, the amounts
shown exclude the impact of estimated forfeitures related to service-based vesting conditions. For additional
information about assumptions used in valuing our equity compensation awards, refer to Note 15 of the
financial statements in our Form 10-K for the year ended March 28, 2008, as filed with the SEC.
(10) In fiscal year 2008, there were no stock option grants to any person who served as a non-employee director.
The outstanding stock option awards held by each non-employee director at 2008 fiscal year-end were:
Mr. Brown (175,630), Mr. Coleman (164,000), Mr. Mahoney (106,000), Mr. Miller (148,000), Mr. Reyes
(240,000), Mr. Schulman (89,168) and Mr. Unruh (180,630). Mr. Roux ceased serving as a director on
September 13, 2007, and therefore, 203,114 of his stock option grants were cancelled during fiscal 2008.
The policy of the Board is that compensation for independent directors should be a mix of cash and equity-
based compensation. Symantec does not pay employee directors for Board service in addition to their regular
employee compensation. Independent directors may not receive consulting, advisory or other compensatory fees
from the company. The Compensation Committee, which consists solely of independent directors, has the primary
responsibility to review and consider any revisions to directors’ compensation.
Director Stock Ownership Guidelines: To better align our directors’ interests with those of our stockholders,
the Compensation Committee instituted new stock ownership guidelines in May 2007. The Committee eliminated
the previous 12 month minimum holding period for equity grants, making the new guidelines as follows:
• Directors must maintain a minimum holding of 10,000 shares of company stock;
• New directors will have three years to reach the minimum holding level; and
• Notwithstanding the foregoing, directors may sell enough shares to cover their income tax liability on vested
grants.
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