Symantec 8-K 2010
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 26, 2010
(Exact Name of Registrant as Specified in Charter)
Registrants Telephone Number, Including Area Code (650) 527-8000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 26, 2010, Stephen M. Bennett, Former President and Chief Executive Officer of Intuit, Inc., was appointed by the Board of Directors (the Board) of Symantec Corporation (the Company) as an independent director of the Company. Mr. Bennetts appointment is effective on February 8, 2010. A press release announcing Mr. Bennetts appointment to the Board is attached as exhibit 99.01 hereto, and is incorporated herein by reference.
Pursuant to the Companys 2004 Equity Incentive Plan, as amended, non-employee directors are eligible to annually receive a fully-vested restricted stock unit (RSU) award with a value of $180,000 on the first business day following the first regular Board meeting of each fiscal year. Mr. Bennett will receive an initial RSU grant on February 9, 2010, the first business day following the date of his appointment to the Board, representing a prorated amount based on the number of days from the date of his appointment to the Board through the date of the first regular Board meeting in fiscal year 2011.
On the effective date of his appointment, Mr. Bennett is expected to enter into the Companys standard form of Indemnity Agreement which provides for indemnification of the indemnitee to the full extent allowed by Delaware law.
On the date of his appointment, Ms. Bennett was not appointed to any committees of the Board.
Item 9.01. Financial Statements and Exhibits