Form 4: Cognizant SVP, Controller & CAO Reports Stock Transactions
SEC Form 4 Filing
Robert Telesmanic, SVP, Controller & CAO of Cognizant Technology Solutions, reports stock transactions including the vesting of restricted stock units and shares withheld for tax obligations.
Summary
- Robert Telesmanic, a Senior Vice President, Controller, and CAO at Cognizant Technology Solutions Corp, filed a Form 4 detailing changes in beneficial ownership.
- On August 16, 2024, Telesmanic acquired 576 shares of Class A Common Stock from the vesting of restricted stock units (RSUs).
- Also on August 16, 2024, 275 shares of Class A Common Stock were withheld to cover applicable taxes at a price of $75.86 per share.
- Following these transactions, Telesmanic directly owns 30,351 shares of Class A Common Stock and indirectly owns 800 shares through a parent's estate.
- The reported transactions also involve Restricted Stock Units, with 576 units vesting on August 16, 2024, leaving a balance of 3,457 RSUs.
- These RSUs were granted on February 16, 2023, and vest quarterly over three years.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation and stock transactions, with no indication of positive or negative sentiment.
Future Outlook
The remaining RSUs will continue to vest in quarterly installments until February 16, 2026.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies like Cognizant. It provides transparency to investors regarding insider activity.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
Key Dates
| Date | Description |
|---|---|
| May 2015 | Reporting person appointed Fiduciary of parent's estate |
| February 16, 2023 | Grant date of 6,913 Restricted Stock Units (RSUs) |
| May 16, 2023 | Commencement of quarterly vesting of RSUs |
| August 16, 2024 | Vesting of 576 shares of Class A Common Stock and withholding of 275 shares for taxes |
| February 16, 2026 | Final vesting date for the RSUs |
| August 20, 2024 | Date of Form 4 signature |
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