Form 4: Cognizant Executive Surya Gummadi Reports Stock Transactions
SEC Form 4
EVP and President, Americas, Surya Gummadi, reports stock transactions involving Class A Common Stock and Restricted Stock Units.
Summary
- Surya Gummadi, EVP and President, Americas, of Cognizant Technology Solutions Corp, filed a Form 4.
- The report details transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- On October 1, 2024, 367 shares were acquired from the vesting of RSUs granted on July 1, 2022.
- Also on October 1, 2024, 181 shares were disposed of to cover applicable taxes at a price of $76.09 per share.
- Following these transactions, Gummadi directly owns 33,037 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: The document is a standard regulatory filing detailing stock transactions, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates standard vesting and tax-related transactions.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation activities.
Key Dates
| Date | Description |
|---|---|
| July 1, 2022 | Date of original grant of 4,409 Restricted Stock Units (RSUs). |
| October 1, 2022 | Commencement date for quarterly vesting of RSUs. |
| October 1, 2024 | Date of reported stock transactions: vesting of RSUs and disposal of shares for tax purposes. |
| July 1, 2025 | Date when all originally granted RSUs will be fully vested. |
| October 3, 2024 | Date of signature of the Form 4 filing. |
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