Symantec 2014 Annual Report Download - page 62

(12) Represents the following non-employee director compensation paid to Mr. Gillett prior to his becoming our
Executive Vice President and Chief Operating Officer in December 2012:
Fees Earned
or Paid in Cash
($)*
Stock
Awards
($)†**
Total
($)
20,013†† 249,987†† 270,000
* Mr. Gillett received an annual fee of $20,000 for serving on the Audit Committee.
†Amounts shown in this column reflect the aggregate full grant date fair value calculated in accordance
with FASC Topic 718 for awards granted during the fiscal year.
** Mr. Gillett was granted 12,547 RSUs on May 7, 2012, with a per share fair value of $15.94 and a full
grant date fair value of $199,999.
†† In lieu of cash, Mr. Gillett received 100% of his annual retainer fee of $50,000 in the form of our
common stock. Accordingly, pursuant to the terms of the 2000 Director Equity Incentive Plan, he was
granted 3,136 shares at a per share fair value of $15.94 and a full grant date fair value of $49,988. The
balance of his fee, $13.00, was paid in cash as reported in the “Fees Earned or Paid in Cash” column
in the table above.
(13) Represents (a) $7,350 for dividend equivalent payment on stock awards, (b) $1,121 for membership fees,
(c) $13,971 for reimbursement for tax services, and (d) $6,000 for the Company’s contributions to
Mr. Taylor’s account under its 401(k) plan.
(14) Represents (a) $959 for coverage of expenses related to attendance at the FY12 Board retreat, (b) $1,111 for
membership fees, (c) $6,529 for reimbursement for tax services, and (d) $6,000 for the Company’s con-
tributions to Mr. Taylor’s account under its 401(k) plan.
(15) Represents salary paid through the effective date of Mr. Bennett’s termination on March 19, 2014.
(16) The PCSUs awarded to our former CEO in fiscal year 2014 were based on the achievement of specified
performance metrics. The PCSUs were also subject to an underlying continued service vesting condition.
The performance metrics for the PCSUs awarded in the fiscal year 2014 were based on the average 60-day
trailing closing price of Symantec’s common stock (the “Average Closing Price”) in fiscal 2014, the two-
year period consisting of fiscal 2014 and 2015 and the three-year period consisting of fiscal 2014, 2015 and
2016. Upon achievement and ratification by our board of directors, one-third of the shares underlying these
awards were to be vested and released in the fiscal year following the applicable period if the Average Clos-
ing Price exceeded $26.79, $30.01, and $33.61 for the one-, two- or three-year periods, respectively. The
price thresholds were not achieved during fiscal 2014; however, all of the PCSUs were released to
Mr. Bennett as a result of his involuntary termination on March 19, 2014. The weighted-average grant date
fair value per share of PCSUs granted was determined to be to be $10.57 per share, using a Monte Carlo
model.
(17) Represents (a) $8,625 for dividend equivalent payment on stock awards, (b) $26,008 for coverage of
expenses related to attendance at the FY13 sales achiever’s trip, (c) $10,000 for reimbursement for tax serv-
ices, (d) $5,208 for the Company’s contributions to Mr. Bennett’s account under its 401(k) plan; and
(e) $3,772,901 in cash severance pay pursuant to Mr. Bennett’s Employment Agreement. For more
information regarding Mr. Bennett’s cash severance pay, see “Potential Payments Upon Termination or
Change in Control” below.
(18) Mr. Bennett received a prorated salary of $684,028 based on his period of employment as our President and
Chief Executive Officer in fiscal 2013.
(19) The PCSUs awarded to our CEO in fiscal year 2013 were based on the achievement of specified perform-
ance metrics. The PCSUs were also subject to an underlying continued service vesting condition. The per-
formance metrics for the PCSUs awarded in the fiscal year 2013 were based on the Average Closing Price
over a three-year period beginning with the second quarter of fiscal 2013. Upon achievement and rat-
ification by our board of directors, these awards were to be vested and released for the fiscal quarter when
the Average Closing Price first exceeds $18.00, $20.00, and $22.00, respectively. The price thresholds were
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