Form 4: Cognizant Director Patsalos-Fox Reports Acquisition of Deferred and Restricted Stock Units
SEC Form 4 Filing
Michael Patsalos-Fox, a director at Cognizant Technology Solutions, reported the acquisition of deferred and restricted stock units related to dividend equivalent rights.
Summary
- On August 28, 2024, Michael Patsalos-Fox, a director of Cognizant Technology Solutions, reported acquiring deferred restricted stock units and restricted stock units.
- These units were received pursuant to dividend equivalent rights accrued on previously outstanding deferred and restricted stock units.
- The director acquired 22.0419 deferred restricted stock units, bringing the total to 5,669.9467.
- Additionally, 13.1365 restricted stock units were acquired, resulting in a total of 3,379.1365.
- The deferred restricted stock units are fully vested and will be settled upon the director's termination of service from the Board.
- The restricted stock units will vest fully on June 4, 2025.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation, indicating a stable and ongoing relationship between the director and the company. It is neither overwhelmingly positive nor negative.
Positives
- The acquisition of stock units reflects continued alignment of the director's interests with the company's performance.
Future Outlook
The deferred restricted stock units will be settled upon the Reporting Person's termination of service from the Board. The restricted stock units will vest fully on June 4, 2025.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Cognizant.
Comparison to Industry Standards
- Executive compensation packages often include stock and option awards to align management interests with shareholder value.
- Companies like Accenture, Infosys, and TCS also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transaction has a minor positive impact on stakeholders by aligning the director's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 08/28/2024 | Date of transaction: Acquisition of deferred and restricted stock units. |
| 06/04/2025 | Vesting date for the restricted stock units. |
| 08/30/2024 | Date of signature for the report. |
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