Form 4: Cognizant EVP Kathryn Diaz Reports Stock Transactions
SEC Form 4
Kathryn Diaz, EVP and Chief People Officer at Cognizant, reports transactions involving Class A Common Stock and Restricted Stock Units.
Summary
- Kathryn Diaz, EVP and Chief People Officer of Cognizant Technology Solutions Corp, filed a Form 4 detailing changes in beneficial ownership.
- On June 1, 2024, Diaz acquired 292 shares of Class A Common Stock from the vesting of Restricted Stock Units (RSUs) granted on March 1, 2022.
- Also on June 1, 2024, she acquired 743 shares of Class A Common Stock from the vesting of RSUs granted on February 28, 2024.
- On June 3, 2024, 366 shares were withheld to pay applicable taxes at a price of $66.15 per share.
- Following these transactions, Diaz directly owns 12,056 shares of Class A Common Stock.
- She also holds 874 RSUs from the March 1, 2022 grant and 8,176 RSUs from the February 28, 2024 grant.
Sentiment
Score: 6
Explanation: The sentiment is neutral. This is a routine filing related to executive compensation. The vesting of RSUs is a standard practice.
Positives
- The vesting of RSUs indicates a continued investment in Cognizant's stock by a key executive.
Industry Context
Executive stock transactions are routinely monitored as indicators of management's confidence in the company's prospects. Vesting of RSUs is a common form of executive compensation in the technology industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 2022-03-01 | Date of original grant of 3,496 RSUs under the 2017 Incentive Award Plan. |
| 2022-06-01 | Commencement of quarterly vesting for RSUs granted on March 1, 2022. |
| 2024-02-28 | Date of original grant of 8,919 RSUs under the 2023 Incentive Award Plan. |
| 2024-06-01 | Vesting of RSUs into Class A Common Stock; 292 shares from March 1, 2022 grant and 743 shares from February 28, 2024 grant. |
| 2024-06-03 | Withholding of 366 shares for tax obligations. |
| 2025-03-01 | Date when RSUs granted on March 1, 2022 will be fully vested. |
| 2027-03-01 | Date when RSUs granted on February 28, 2024 will be fully vested. |
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