Symantec 2009 Annual Report Download - page 45

SUPPLEMENTARY POLICIES AND CONSIDERATIONS
We use several additional policies to ensure that the overall compensation structure is responsive to
stockholder interests and competitive with the market. Specific policies include:
Stock Ownership Requirements
To ensure that our executive management team’s interests are aligned with our stockholders, we instituted
stock ownership requirements in October 2005. Minimum ownership levels are based on the executive’s salary
grade:
• CEO: 150,000 shares
• CFO/COO: 85,000 shares
• Group Presidents and Executive Vice Presidents: 35,000 shares
Each person holding one of the positions listed above is required to acquire and thereafter maintain the stock
ownership required within four years of becoming an executive of the Company (or four years following the
adoption date of these guidelines).
Stock options and unvested restricted stock or restricted stock units do not count toward stock ownership
requirements. Until an executive meets the applicable stock ownership requirement, the executive is encouraged to
retain a percentage of any shares received as a result of the exercise of any stock option or other equity award, net of
the applicable exercise price and tax withholdings.
As of July 3, 2009, Enrique Salem, Gregory Hughes and J. David Thompson had reached the stated ownership
requirements. James Beer has yet to reach the required ownership level, but is within the four-year window since his
commencement of employment in February 2006. John Thompson, our former CEO, although no longer subject to
our management stock ownership requirements, held over 1.4 million shares as of July 3, 2009. See the table below
for individual ownership levels relative to the executive’s ownership requirement.
Named Executive Officer
Ownership
Requirement
(# of shares)
Holdings as of
July 3, 2009
Additional Shares
Required
Enrique Salem ............................. 150,000 181,406 —
James Beer ............................... 85,000 60,285 24,715
Gregory Hughes ............................ 35,000 52,560 —
J. David Thompson ......................... 35,000 41,264 —
John Thompson ............................ N/A 1,452,591 —
Recoupment Policies (Clawbacks)
During fiscal 2009, the Company added provisions to its executive annual incentive plans to the effect that the
Company will seek reimbursement of excess incentive cash compensation if the Company’s financial statements are
the subject of a restatement due to error or misconduct. The Company’s long term incentive plans have contained
such provisions since their inception during fiscal 2008.
Certain Other Securities Matters
Our Insider Trading Policy provides that no director or executive officer may maintain a margin arrangement
involving Symantec’s securities while in possession of material non-public information about Symantec, engage in
any short sale transaction involving Symantec’s securities or purchase or write any put or call option involving
Symantec’s securities.
In addition, our Insider Trading Policy requires that our Chief Executive Officer, Chief Operating Officer,
Chief Financial Officer, and each of our directors conduct open market transactions in our securities only through
use of stock trading plans adopted pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1
allows insiders to sell and diversify their holdings in our stock over a designated period by adopting pre-arranged
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