Form 4: Cognizant EVP Kathryn Diaz Reports Stock Transactions
SEC Form 4
Kathryn Diaz, EVP and Chief People Officer at Cognizant, reports the vesting of restricted stock units and associated tax withholding.
Summary
- Kathryn Diaz, EVP and Chief People Officer of Cognizant Technology Solutions, filed a Form 4 detailing changes in beneficial ownership.
- On October 1, 2024, Diaz vested 367 shares of Class A Common Stock from a restricted stock unit (RSU) award granted on July 1, 2022.
- 182 shares were withheld to cover applicable taxes at a price of $76.09 per share.
- Following these transactions, Diaz directly owns 14,412 shares of Class A Common Stock and 1,103 Restricted Stock Units.
- The RSUs vest in quarterly installments over three years, commencing on October 1, 2022, and will be fully vested by July 1, 2025.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting scheduled vesting of stock options, with no indication of unusual activity or sentiment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.
Stakeholder Impact
- The vesting of RSUs and subsequent tax withholding have a minor impact on the total number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| July 1, 2022 | Date of original RSU grant. |
| October 1, 2022 | Commencement of quarterly vesting of RSUs. |
| October 1, 2024 | Date of reported stock vesting and tax withholding. |
| July 1, 2025 | Date when RSUs will be fully vested. |
| October 3, 2024 | Date of signature on the Form 4 filing. |
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