Form 4: Cognizant Executive Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Robert Telesmanic, SVP, Controller & CAO of Cognizant Technology Solutions, reports the vesting of restricted stock units and subsequent stock transactions.
Summary
- On March 1, 2024, Robert Telesmanic, SVP, Controller & CAO of Cognizant Technology Solutions, had 445 shares of Class A Common Stock vest from restricted stock units (RSUs).
- He also disposed of 209 shares to cover applicable taxes at a price of $78.61 per share.
- Following these transactions, Telesmanic directly owns 26,399 shares of Class A Common Stock and indirectly owns 800 shares through a parent's estate.
- He also holds 1,783 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock transactions, with no indication of positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The transactions have a negligible impact on the company's overall financial position.
Key Dates
| Date | Description |
|---|---|
| March 1, 2022 | Date of original grant of 5,347 Restricted Stock Units (RSUs) under the Company's 2017 Incentive Award Plan. |
| June 1, 2022 | Commencement of quarterly vesting of the RSUs. |
| March 1, 2024 | Date of transaction: Vesting of 445 shares of Class A Common Stock and disposal of 209 shares for tax obligations. |
| March 1, 2025 | Date when the RSUs will be fully vested. |
| March 5, 2024 | Date of signature on the Form 4 filing. |
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