Symantec 2012 Annual Report Download - page 38

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tion program, including our stock retention program. We have reviewed various data sources on the stock owner-
ship requirements utilized by our peers, and, similar to our current program, under the executive compensation
programs currently offered by our peers, executive officers are able to realize value from their equity awards
during the course of their employment after they have reached their company’s holding requirement threshold. If
we imposed a post-employment holding requirement, it could diminish our ability to attract and retain executives
or require us to compensate executives in other less effective ways to remain competitive. We believe it is in the
best interests of our stockholders that we retain the flexibility to establish executive compensation programs that
are competitive in attracting and retaining executives who can best drive long-term stockholder value.
Symantec has a strong and effective corporate structure practice. Symantec is committed to strong
corporate governance practices, and this is reflected by its strong corporate governance ratings. For example,
Institutional Shareholder Services (ISS) has given us a “Low Concern” rating in each of the four areas it eval-
uates our governance practices: Audit, Board Structure, Compensation and Shareholder Rights. In addition, ISS
recommended a “FOR” vote in favor of our Board members who were up for reelection at our 2011 Annual
Meeting of Stockholders, with members receiving between 99.1% to 82.5% of the votes cast.
For these reasons, the Board believes that our existing stock ownership requirements and other compensa-
tion programs and policies effectively facilitate significant stock ownership by our executive officers and that
establishing a holding requirement until reaching normal retirement age would not be in the best interests of our
stockholders.
THE BOARD RECOMMENDS A VOTE “AGAINST” PROPOSAL NO. 4.
PROXIES RECEIVED BY THE COMPANY WILL BE VOTED “AGAINST”
THIS PROPOSAL UNLESS OTHERWISE INSTRUCTED.
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