Symantec 2014 Annual Report Download - page 50

Leadership skills are a common component to each of these objectives and are a significant factor in the
assessment of individual performance. The executive’s willingness to contribute to cross-functional initiatives
outside his or her primary area of responsibility, and the executive’s contribution to our company’s performance-
based culture, are also extremely important aspects of the individual performance assessment.
The CEO evaluates the performance level of each named executive officer’s performance against the pre-
determined goals following the end of fiscal year and then makes a recommendation to the Compensation
Committee. The Compensation Committee then reviews the CEO’s compensation recommendations for the other
named executive officers, makes any appropriate adjustments, and approves their compensation.
Achievement of Fiscal Year 2014 Performance Metrics:
For fiscal 2014, our non-GAAP operating income target was $1,925 million and our revenue target was
$6,949 million. The Compensation Committee determined that we achieved 93.9% of the non-GAAP operating
income metric and 96.4% for the revenue metric. Since we did not meet the threshold level performance for the
non-GAAP operating income metric (95.0% of target), the FY14 Executive Annual Incentive Plan for the named
executive officers was not funded. For purposes of calculating achievement of these metrics, consistent with the
presentation of non-GAAP operating income in our quarterly supplemental materials, foreign exchange move-
ments were held constant at plan rates, pursuant to the terms of the plans. If we had achieved at least the thresh-
old level of achievement for the non-GAAP operating income metric, the revenue modifier would have been
(30%).
For fiscal 2014, the Compensation Committee did not evaluate achievement of the individual performance
metrics for Messrs. Gillett, Taylor and Rath because the FY14 Executive Annual Incentive Plans pool was not
funded as a result of our underperformance with respect to the non-GAAP operating income metric as described
above. Also, as noted below, Messrs. Brown and Seifert did not participate in the Executive Annual Incentive
Plans since Mr. Brown’s role is interim CEO and Mr. Seifert joined our company less than a month before our
fiscal year end. Our named executive officers’ fiscal 2014 annual incentive payout level by performance metric,
total payout as percentage of target opportunity and total payout amounts are provided in the table below:
Non-GAAP
Operating
Income Funding
Revenue
Modifier Funding
Individual
Performance
Modifier
Funding
Payout
Amount ($)
Michael A. Brown ......................... n/a n/a n/a n/a(1)
Thomas J. Seifert ......................... n/a n/a n/a n/a(1)
Stephen E. Gillett ......................... — — — —
Scott C. Taylor ........................... — — — —
Former Officers
Stephen M. Bennett ........................ — — — n/a(2)
James A. Beer ............................ n/a n/a n/a n/a(2)
Francis A. deSouza ........................ n/a n/a n/a n/a(2)
Andrew H. Del Matto ...................... n/a n/a n/a n/a(2)
Donald J. Rath ............................ — — — —
(1) Messrs. Brown and Seifert did not participate in the Executive Annual Incentive Plans in fiscal 2014.
(2) Messrs. Bennett, Beer, Del Matto and deSouza were not eligible for an award since they were not employed
with us at the end of fiscal 2014.
III. Equity Incentive Awards
The primary purpose of our equity incentive awards is to align the interests of our named executive officers
with those of our stockholders by rewarding the named executive officers for creating stockholder value over the
long-term. By compensating our executives with equity incentive awards, our executives hold a stake in the
Company’s financial future. The gains realized in the long term depend on our executives’ ability to drive the
financial performance of the Company. Equity incentive awards are also a useful vehicle for attracting and
retaining executive talent in our competitive talent market.
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