Symantec 2014 Annual Report Download - page 56

SUPPLEMENTARY POLICIES AND CONSIDERATIONS
We use several additional policies to ensure that the overall compensation structure is responsive to stock-
holder interests and competitive with the market. Specific policies include:
Stock Ownership Requirements
We believe that in order to align the interests of our executive officers with those of our stockholders, our
executive officers should have a financial stake in our company. We have maintained stock ownership require-
ments for our executive officers since October 2005. In July 2013, to further enhance the alignment between our
executive officers’ and stockholders’ interests, the Compensation Committee further modified the stock owner-
ship requirements to increase the minimum levels our Chief Operating Officer and President, Products and Serv-
ices. For fiscal 2014 our executive officers were required to hold the following minimum number of shares:
‰CEO: 5x base salary
‰CFO, COO and President, Products and Services: 3x base salary
‰Executive Vice Presidents: 2x base salary
Stock options and unvested RSUs, PRUs and PCSUs do not count toward stock ownership requirements.
The executive officer is required to acquire and thereafter maintain the stock ownership required within four
years of becoming an executive officer of Symantec (or four years following the adoption date of these revised
guidelines). During the four-year transitional period, each executive officer must retain at least 50% of all net
(after-tax) equity grants until the required stock ownership level has been met.
As of March 28, 2014, Mr. Taylor reached the stated ownership requirements for fiscal 2014. Mr. Seifert
has until March 2018 and Mr. Gillett has until July 2017 to meet the stated thresholds. See the table below for
individual ownership levels relative to the executive’s ownership requirement.
Named Executive Officer
Ownership
Requirement(1)
(# of shares)
Holdings as of
March 28, 2014
Michael A. Brown ......................................... 303,183 116,153
Thomas J. Seifert .......................................... 109,146 —
Stephen E. Gillett .......................................... 132,642 27,028
Scott C. Taylor ............................................ 42,445 43,729
(1) Based on the closing price for a share of our common stock of $19.79 on March 28, 2014
Recoupment Policies (Clawbacks)
Since fiscal 2009, we have included provisions within our executive annual incentive plans to the effect that
we will seek reimbursement of excess incentive cash compensation if our financial statements are the subject of a
restatement due to error or misconduct.
Insider Trading, Hedging and Pledging Policies
Our Insider Trading Policy prohibits all directors and employees from short-selling Symantec stock or
engaging in transactions involving Symantec-based derivative securities, including, but not limited to, trading in
Symantec-based option contracts (for example, buying and/or writing puts and calls). It also prohibits pledging
Symantec stock as collateral for a loan.
In addition, our Insider Trading Policy prohibits our directors, officers, employees and contractors from
purchasing or selling Symantec securities while in possession of material, non-public information. It also requires
that each of our directors, our Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, and
President, Products and Services conduct open market sales of our securities only through use of stock trading
plans adopted pursuant to Rule 10b5-1 of the Exchange Act. Rule 10b5-1 allows insiders to sell and diversify
their holdings in our stock over a designated period by adopting pre-arranged stock trading plans at a time when
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