Table:
| Executive Officer | Ownership Requirement (1) (# of shares) | Holdings as of October 25, 2019(# of shares) |
| --- | --- | --- |
| Samir Kapuria | 39,665 | 186,735 |
| Vincent Pilette | 85,941 | 785,906 |
| Scott C. Taylor | 52,887 | 408,724 |
Paragraphs:
Stock Ownership Requirements
We believe that in order to align the interests of our executive officers with those of our stockholders, our executive officers should have a financial stake in our Company. We have maintained stock ownership requirements for our executive officers since October 2005. For FY19, our executive officers were required to hold the following minimum number of shares:
• CEO: 6x base salary; • CFO, COO and President: 3x base salary; and • Executive Vice Presidents: 2x base salary.
Stock options and unvested RSUs and PRUs do not count toward stock ownership requirements.
The executive officer is required to acquire and thereafter maintain the stock ownership required within four years of becoming an executive officer of NortonLifeLock (or four years following the adoption date of these revised guidelines). During the four-year transitional period, each executive officer must retain at least 50% of all net (after-tax) equity grants until the required stock ownership level has been met.
As of October 25, 2019, Messrs. Kapuria, Pilette and Taylor reached the stated ownership requirements for FY19. Transitioning or former executive officers and non-executive officers are not included in the table below. See the table below for individual ownership levels relative to the executive’s ownership requirement.
(1) Based on the closing price for a share of our common stock of $22.69 on October 25, 2019.
Question:
What is the ownership requirement based on?
Answer: the closing price for a share of our common stock of $22.69 on October 25, 2019