Symantec 2016 Annual Report Download - page 62

Below is the summary of our PRU performance metrics achievements since fiscal 2014. The PRU awards
granted in fiscal 2014 finished the 3-year performance period at the end of fiscal 2016 resulting in an overall
payout of 61.25% of the target award level.
Non-GAAP EPS 2-Year TSR 3-Year TSR
Grant Year
Performance
as % of
Target
Eligible
Shares as %
of Target
Shares
S&P 500
Percentile
Ranking
Payout as %
of Target
S&P 500
Percentile
Ranking
Payout
as % of
Target
Overall
Payout
Fiscal 2014 Award ....... 99.0% 98.0% 11th 50% 14th 50% 61.25%
Fiscal 2015 Award ....... 99.8% 98.3% 53rd 106% TBD
Fiscal 2016 Award ....... 88.7% 81.2% TBD
The following table summarizes the number of shares granted in fiscal 2016, value of each award and the
total value of the equity awards for each named executive officer as of the Grant Date (all values of restricted
stock unit awards are based upon the closing price for a share of our common stock of $23.78 on June 10, 2015).
Name of NEO Target PRUs (#)
PRU Value at
Grant Date ($) RSUs (#)
RSU Value at
Grant Date ($)
Total Target
Equity Incentive
Awards Value
at Grant Date
($)
Michael A. Brown ............. 335,436 9,067,506 143,758 3,417,846 12,485,352
Thomas J. Seifert .............. 107,819 2,914,563 71,879 1,708,923 4,623,486
Balaji Yelamanchili ............ 119,799 3,238,407 79,866 1,898,814 5,137,221
Scott C. Taylor ............... 71,879 1,943,033 47,919 1,139,274 3,082,307
Francis C. Rosch .............. 119,799 3,238,407 79,866 1,898,814 5,137,221
Burn Rate and Dilution: We closely manage how we use our equity to compensate employees. We think of
“gross burn rate” as the total number of shares granted under all of our equity incentive plans during a period
divided by the weighted average number of shares of common stock outstanding during that period and
expressed as a percentage. We think of “net burn rate” as the total number of shares granted under all of our
equity incentive plans during a period, minus the total number of shares returned to such plans through awards
cancelled during that period, divided by the weighted average number of shares of common stock outstanding
during that period, and expressed as a percentage. “Overhang” we think of as the total number of shares under-
lying options and awards outstanding plus shares available for issuance under all of our equity incentive plans at
the end of a period divided by the weighted average number of shares of common stock outstanding during that
period and expressed as a percentage. The Compensation Committee determines the percentage of equity to be
made available for our equity programs with reference to the companies in our market composite. In addition, the
Compensation Committee considers the accounting costs that will be reflected in our financial statements when
establishing the forms of equity to be granted and the size of the overall pool available. For fiscal 2016, our gross
burn rate was 2.17%, our net burn rate was 0.24%, and our overhang was 12.02%.
Roles of Our Compensation Committee, Independent Directors, Executive Officers and Consultants in our
Compensation Process
The Compensation Committee, which is comprised entirely of independent directors, is responsible for
overseeing all of Symantec’s compensation programs, including the review and recommendation to the
independent directors of our Board of all compensation arrangements for our CEO and the review and approval
of the compensation payable to our other named executive officers.
The independent directors of the Board evaluate the CEO’s performance and the Compensation Committee
then reviews and recommends to the independent members of the Board all compensation arrangements for the
CEO. After discussion, the independent members of the Board determine the CEO’s compensation. The
52