Symantec 2016 Annual Report Download - page 169

2004 and 2013 Equity Incentive Plans
Under both the 2004 Equity Incentive Plan (“2004 Plan”) and the 2013 Equity Incentive Plan (“2013 Plan”)
(collectively “the Equity Plans”), the Company has granted incentive and nonqualified stock options, stock
appreciation rights, RSUs, restricted stock awards, and performance-based awards to employees, officers,
directors, consultants, independent contractors, and advisors to us. These may also be granted to any parent,
subsidiary, or affiliate of ours. The purpose of the Equity Plans has been to attract, retain, and motivate eligible
persons whose present and potential contributions are important to our success by offering them an opportunity
to participate in our future performance through equity awards. RSUs granted prior to November 2014 generally
vest over a four-year period, whereas RSUs granted thereafter generally vest over a three-year period.
All RSUs and performance-based awards granted under the Equity Plans have DERs which entitle
participants to the same dividend value per share as holders of Company’s common stock. The DERs are to be
paid in the form of cash upon vesting for each share of the underlying award, and are subject to the same terms
and conditions as the underlying award.
Upon adoption, our stockholders approved and reserved 45 million shares of common stock for issuance
under the 2013 Plan. As of April 1, 2016, 20 million shares remained available for future grant. We use RSUs as
our primary equity awards and stock option activity is not material to our Consolidated Financial Statements.
Stock-based compensation expense
The following table sets forth the total stock-based compensation expense recognized in our Consolidated
Statements of Operations.
Year Ended
April 1,
2016
April 3,
2015
March 28,
2014
(Dollars in millions)
Cost of revenue $ 10 $ 15 $ 10
Sales and marketing 53 46 35
Research and development 56 39 29
General and administrative 42 31 31
Total stock-based compensation expense from continuing operations 161 131 105
Tax benefit associated with stock-based compensation expense (50) (37) (30)
Net stock-based compensation expense from continuing operations 111 94 75
Net stock-based compensation expense from discontinued operations 56 46 36
Net stock-based compensation expense $ 167 $ 140 $ 111
Restricted stock units
Number of
Shares
Weighted-
Average
Grant Date Fair
Value
Weighted-
Average
Remaining
Years
Aggregate Intrinsic
Value
(In millions, except per share and years data)
Outstanding at April 3, 2015 26 $ 22.23
Granted 14 23.20
Vested and released (11) 21.73
Forfeited (12) 22.91
Outstanding and unvested at April 1, 2016 17 $ 22.72 1.2 $ 306
Expected to vest at April 1, 2016 14 1.1 $ 256
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