On August 16, 2018, Symantec Corporation issued the following press release:
Symantec Confirms Receipt of Director Nominations
No Stockholder Action Required at This Time
MOUNTAIN VIEW, Calif. – August 16, 2018 –Symantec Corp. (NASDAQ: SYMC) today issued the following statement in response to the submission by Starboard Value (“Starboard”), of five nominees to stand for election to the Symantec Board of Directors at Symantec’s 2018 Annual Meeting of Stockholders (“2018 Annual Meeting”).
Symantec maintains open communications with its stockholders and values constructive input that advances the goal of creating value for all stockholders. Over the last several weeks, we have had a dialogue with Starboard and we plan to continue these discussions.
The Nominating and Governance Committee of the Symantec Board (the “Committee”) is responsible for identifying individuals qualified to become members of the Symantec Board and recommending to the Board the director nominees to be put before stockholders at each annual meeting. To that end, the Committee is evaluating the nominations put forth by Starboard consistent with established policies.
The Company’s 2018 Annual Meeting has not yet been scheduled. As previously disclosed, the Audit Committee of the Company’s Board of Directors is conducting an internal investigation. The Company intends to finalize and file its financial statements with the U.S. Securities and Exchange Commission (“SEC”) following completion of the investigation and subsequent procedures by the Company’s independent public accounting firm, at which point Symantec will schedule its 2018 Annual Meeting and file its proxy materials with the SEC. The Company’s Board of Directors will present its formal recommendation to stockholders regarding director nominations in the Company’s proxy statement. Stockholders do not need to take any action at this time.
Goldman Sachs & Co. LLC is serving as financial advisor and Fenwick & West LLP is serving as legal advisor to Symantec.
About Symantec
Symantec Corporation (NASDAQ: SYMC), the world’s leading cybersecurity company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats. For additional information, please visit www.symantec.com or connect with us on Facebook, Twitter, and LinkedIn.