Symantec 2014 Annual Report Download - page 38

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EXECUTIVE COMPENSATION AND RELATED INFORMATION
COMPENSATION DISCUSSION & ANALYSIS (CD&A)
This compensation discussion and analysis describes the material elements of Symantec’s executive compen-
sation program for fiscal 2014. For fiscal 2014, our named executive officers (“NEOs”) include the following
current officers:
‰Michael A. Brown, interim President and Chief Executive Officer
‰Thomas J. Seifert, Executive Vice President and Chief Financial Officer
‰Stephen E. Gillett, Executive Vice President and Chief Operating Officer
‰Scott C. Taylor, Executive Vice President, General Counsel and Corporate Secretary
Our NEOs also include, pursuant to applicable SEC rules, the following former executive officers:
‰Stephen M. Bennett, former President and Chief Executive Officer
‰James A. Beer, former Executive Vice President and Chief Financial Officer
‰Francis A. deSouza, former President, Products and Services
‰Andrew H. Del Matto, former acting Chief Financial Officer and Chief Accounting Officer
‰Donald J. Rath, former interim Chief Financial Officer, interim Chief Accounting Officer and current
Vice President, Tax
Our Compensation Philosophy and Practices
The overriding principle driving our compensation programs continues to be our belief that it benefits our
employees, customers, partners and stockholders to have management’s compensation tied to our current and
long-term performance. The following factors demonstrate our continued commitment to pay-for-performance
and to corporate governance best practices:
‰We reward performance that meets our performance goals. Our compensation plans do not have guaran-
teed payout levels, and our named executive officers do not receive any payouts under performance-based
cash or equity awards if the goals are not met. For example, for fiscal 2014, none of our named executive
officers received a payout under our FY14 Executive Annual Incentive Plans because we did not meet the
threshold level of performance. Our compensation plans are also capped to discourage excessive or
inappropriate risk taking by our executive officers.
‰We continue to grant performance-based restricted stock units (“PRUs”) to our named executive officers
as a regular part of our annual executive compensation program. We do not award any stock options to
our executives.
‰The long-term equity incentive component of our former CEO’s compensation package for fiscal 2014
was composed exclusively of performance-contingent stock units (“PCSUs”), which derive their value on
the basis of increases in our stock price.
‰Our various incentive plans use multiple measures that correlate to stockholder value, such that no single
metric is overly emphasized in determining payouts.
‰Our peer group consists primarily of businesses with a focus on software development or software and
engineering-driven companies that compete with us for talent. Our peer group companies are comparable
to us in terms of complexity, global reach, revenue and market capitalization.
‰We have long-standing stock ownership guidelines for our named executive officers, requiring them to
hold a minimum value in shares so that they have an even greater financial stake in our company, thereby
further aligning the interests of our executive officers with those of our stockholders. We also prohibit the
sale of any shares (except to meet tax withholding obligations) if doing so would cause them to fall below
the required ownership levels.
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