Form 4: Cognizant SVP, Controller & CAO Reports Stock Transactions
SEC Form 4 Filing
Robert Telesmanic, SVP, Controller & CAO of Cognizant Technology Solutions, reports the settlement of performance-based stock units and related tax withholding.
Summary
- Robert Telesmanic, a Senior Vice President, Controller, and CAO at Cognizant Technology Solutions, filed a Form 4 detailing changes in beneficial ownership.
- On March 15, 2024, Telesmanic settled 5,643 performance-based stock units (PSUs), receiving an equivalent number of Class A Common Stock shares.
- Also on March 15, 2024, 2,768 shares of Class A Common Stock were withheld to cover applicable taxes at a price of $75.33 per share.
- Following these transactions, Telesmanic directly owns 29,274 shares of Class A Common Stock.
- Telesmanic also indirectly owns 800 shares of Class A Common Stock through a parent's estate, where he serves as the Appointed Fiduciary.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction affects the reporting person's ownership stake in the company.
- The tax withholding impacts the company's cash flow.
Key Dates
| Date | Description |
|---|---|
| February 23, 2021 | PSUs were originally granted under the Company's 2017 Incentive Award Plan. |
| May 2015 | The reporting person has been the Appointed Fiduciary of the estate since this date. |
| February 28, 2024 | A portion of the performance conditions were determined to be satisfied. |
| March 15, 2024 | Settlement of performance-based stock units and tax withholding occurred. |
| 03/19/2024 | Date of signature for the Form 4 filing. |
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