Gen Digital Inc. Files Proxy Statement for Annual Meeting

Ticker: GENVR · Form: DEF 14A · Filed: Jul 29, 2024 · CIK: 849399

Gen Digital Inc. DEF 14A Filing Summary
FieldDetail
CompanyGen Digital Inc. (GENVR)
Form TypeDEF 14A
Filed DateJul 29, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$899 million, $3, $1,183 million, $441 m, $323 million
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, annual-meeting, corporate-governance

Related Tickers: GEN

TL;DR

Gen Digital (GEN) proxy statement filed. Vote on directors & company matters Sept 10.

AI Summary

Gen Digital Inc. filed its definitive proxy statement (DEF 14A) on July 29, 2024, for its annual meeting on September 10, 2024. The filing concerns the solicitation of proxies for the meeting, which will include the election of directors and other corporate matters. Gen Digital Inc. was formerly known as NortonLifeLock Inc. and Symantec Corp.

Why It Matters

This filing provides shareholders with crucial information regarding the company's governance, director nominations, and proposals to be voted on at the upcoming annual meeting, impacting their ability to make informed decisions.

Risk Assessment

Risk Level: low — A DEF 14A filing is a routine disclosure document for public companies and does not inherently present new risks.

Key Players & Entities

  • Gen Digital Inc. (company) — Registrant
  • NortonLifeLock Inc. (company) — Former Company Name
  • SYMANTEC CORP (company) — Former Company Name
  • 20240910 (date) — Annual Meeting Date
  • 20240729 (date) — Filing Date

FAQ

What is the purpose of a DEF 14A filing?

A DEF 14A filing, also known as a definitive proxy statement, is filed by a company to solicit proxies from its shareholders for an upcoming shareholder meeting.

When is Gen Digital Inc.'s annual meeting scheduled?

Gen Digital Inc.'s annual meeting is scheduled for September 10, 2024.

What information is typically included in a DEF 14A filing?

A DEF 14A filing typically includes information about the election of directors, executive compensation, proposals to be voted on by shareholders, and other corporate governance matters.

What were Gen Digital Inc.'s former company names?

Gen Digital Inc. was formerly known as NortonLifeLock Inc. and Symantec Corp.

On what date was this DEF 14A filing submitted?

This DEF 14A filing was submitted on July 29, 2024.

Filing Stats: 4,389 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-07-29 08:00:36

Key Financial Figures

  • $899 million — S and FY24 cash flow was impacted by an $899 million income tax refund related to the filing
  • $3 — 39 million, overall annual ARPU by over $3, and our overall retention rate by two
  • $1,183 million — areholder value, including repayment of $1,183 million of debt, repurchasing approximately 21
  • $441 m — common stock for an aggregate amount of $441 million, and paying a total of $323 milli
  • $323 million — of $441 million, and paying a total of $323 million in quarterly dividends to stockholders.

Filing Documents

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 56 Five Percent Owners of Common Stock 56

Security Ownership of Executive Officers and Directors

Security Ownership of Executive Officers and Directors 57

EXECUTIVE COMPENSATION AND RELATED INFORMATION

EXECUTIVE COMPENSATION AND RELATED INFORMATION 58 Compensation Discussion & Analysis (CD&A) 58 Compensation and Leadership Development Committee Interlocks and Insider Participation 82 Compensation and Leadership Development Committee Report 82

Executive Compensation Tables

Executive Compensation Tables 83 Potential Payments Upon Termination or Change-in-Control 88 CEO Pay Ratio 91 Pay Versus Performance 92 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 96 Related-Person Transactions Policy and Procedure 96 Certain Related Party Transactions 97 REPORT OF THE AUDIT COMMITTEE 98 INFORMATION ABOUT SOLICITATION AND VOTING 99 ABOUT THE ANNUAL MEETING 100 ADDITIONAL INFORMATION 104 Stockholder Proposals for the 2025 Annual Meeting Available Information 104 Householding—Stockholders Sharing the Same Last Name and Address 105 OTHER MATTERS 106 Note About Forward-Looking Statements 106 Information Referenced in This Proxy Statement 106 ANNEX A—RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND EXPLANATION OF KEY PERFORMANCE INDICATORS 107 ANNEX B—AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN 109 TABLE OF CONTENTS Proxy Summary This summary highlights information contained elsewhere in this proxy statement. This summary does not contain all of the information that you should consider, and you should read the entire proxy statement carefully before voting. 2024 Annual Meeting of Stockholders Information Date and Time: Tuesday, September 10, 2024 at 9:00 a.m. Pacific Time Location: Meeting live via the internet by visiting www.virtualshareholdermeeting.com/ GEN2024 Record Date: July 15, 2024 Admission: To participate in the Annual Meeting, visit www.virtualshareholdermeeting.com/GEN2024 . You will need the 16-digit control number included on your Notice of Internet Availability of Proxy Materials, on your proxy card or on the instructions that accompanied your proxy materials. If your shares are held in an account with a brokerage firm, bank or other nominee, then you may not vote your shares at the Annual Meeting unless you request and obtain a valid proxy from the organization that holds your shares giving you the right to vote your shares at the Annual Meeting. Voting

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