Symantec 2010 Annual Report Download - page 40

PROPOSAL NO. 4
AMENDMENT TO OUR 2008 EMPLOYEE STOCK PURCHASE PLAN
We are asking stockholders to approve an amendment to our 2008 Employee Stock Purchase Plan (the
“ESPP”) to increase the number of shares reserved for issuance under the ESPP by 20,000,000 shares, from
20,000,000 shares to 40,000,000 shares. The Board approved this amendment in April 2010, subject to stockholder
approval at the annual meeting.
The ESPP provides our employees the means to acquire shares of our common stock at a discount to the
purchase date fair market value through accumulated payroll deductions. This is a long-standing benefit program,
and we believe it is important in helping us retain employees and helping align their interests with those of our
stockholders.
Plan History
The ESPP was originally adopted by the Board in April 2008, and it was approved by our stockholders in
September 2008. As of July 2, 2010, an aggregate of 4,363,936 shares of common stock have been issued, and
15,636,064 shares remain available for future issuance under the ESPP. Shares under the ESPP are allocated as
follows:
• 4,363,936 shares are issued as a result of ESPP purchases (and are therefore not available for future grant);
• 15,636,064 shares are available for future issuance.
As of July 2, 2010, the following named executive officers had purchased under the ESPP the number of the
shares listed after his or her name during the fiscal year ending April 2, 2010: Enrique Salem — 1,691 shares;
William T. Robbins — 1,590 shares and J. David Thompson — 1,232 shares. During fiscal year 2010, all executive
officers as a group purchased an aggregate of 8,675 shares. No associate of any of our executive officers or directors
has purchased shares under the ESPP, and no person has purchased 5% or more of the total shares issued under the
ESPP from the inception of the ESPP through July 2, 2010.
Summary of our 2008 Employee Stock Purchase Plan
The following is a summary of the principal provisions of the ESPP, as proposed for approval. This summary
does not purport to be a complete description of all of the provisions of the ESPP. It is qualified in its entirety by
reference to the full text of the ESPP. A copy of the ESPP has been filed with the SEC with this proxy statement, and
any stockholder who wishes to obtain a copy of the ESPP may do so by written request to the Secretary at
Symantec’s headquarters in Mountain View, California.
Statutory Plan and Non-Statutory Plan. The ESPP allows us the ability to establish separate sub-plans to
permit the purchase of our common stock either through the “Statutory Plan,” which is intended to satisfy the
requirements of Section 423 of the Code or through one or more “Non-Statutory Plans” that will not comply with
Section 423. The Statutory Plan and the Non-Statutory Plans shall be operated as separate and independent plans,
although the total number of shares authorized to be issued under the ESPP applies in the aggregate to both the
Statutory Plan and to all Non-Statutory Plans. Other than the share reserve, the Board may adopt special provisions,
rules and procedures for a particular Non-Statutory Plan that are different from, and may in certain cases supersede
the provisions of the ESPP, without seeking stockholder approval.
Shares Reserved for Issuance. If Proposal No. 4 is approved, the total number of shares reserved for issuance
will increase from 20,000,000 to 40,000,000 shares. As of July 2, 2010, 788,938,395 shares of our common stock
were issued and outstanding.
Offering Periods. The ESPP operates by offering eligible employees the right to purchase stock through a
series of successive or overlapping offering periods (each an “Offering Period”). The ESPP operates through a
series of successive six-month Offering Periods that begin each February 16 and August 16 (or the first business day
after that date), and end, respectively, on the following August 15 and February 15 (or the last business day
preceding that date). The ESPP permits us to provide for multiple purchase dates within a single Offering Period.
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