Form 4: Cognizant Director Patsalos-Fox Reports Changes in Beneficial Ownership

Michael Patsalos-Fox, a director at Cognizant Technology Solutions, reports changes in beneficial ownership due to the acquisition of deferred and restricted stock units.

Summary

• Michael Patsalos-Fox, a director of Cognizant Technology Solutions, filed a Form 4 with the SEC.
• The filing reports the acquisition of deferred restricted stock units and restricted stock units on May 29, 2024, due to dividend equivalent rights.
• He acquired 25.5101 deferred restricted stock units and 16.1804 restricted stock units.
• These units represent the right to receive Class A Common Stock of the company.
• Following the reported transactions, Patsalos-Fox beneficially owns 5,647.9048 deferred restricted stock units and 3,582.3388 restricted stock units.
• The deferred restricted stock units are fully vested and will be settled upon termination of service from the Board.
• The restricted stock units will vest fully on June 6, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with shareholders.

Positives

• The acquisition of stock units reflects continued alignment of the director's interests with those of the shareholders.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The reported transactions provide transparency to shareholders regarding the director's holdings.

Key Dates