Form 4: Cognizant Director Joseph M. Velli Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Director Joseph M. Velli reports acquisition of restricted stock units in Cognizant Technology Solutions Corp. due to dividend equivalent rights.
Summary
- On August 28, 2024, Joseph M. Velli, a director of Cognizant Technology Solutions Corp., acquired restricted stock units.
- The acquisition was due to dividend equivalent rights accrued on previously outstanding restricted stock units.
- Velli acquired 13.1365 restricted stock units, each representing a contingent right to receive one share of Class A Common Stock.
- Following the transaction, Velli directly owns 3,379.1365 restricted stock units.
- The restricted stock units will vest fully on June 4, 2025.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Cognizant.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects changes in insider ownership.
Key Dates
| Date | Description |
|---|---|
| 08/28/2024 | Date of transaction: Joseph M. Velli acquired restricted stock units. |
| 06/04/2025 | Restricted stock units will vest fully. |
| 08/30/2024 | Date of signature for the report. |
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