Form 4: Conduent Inc. EVP, Chief Financial Officer Stephen Henry Wood Reports Changes in Beneficial Ownership

Stephen Henry Wood, EVP and Chief Financial Officer of Conduent Inc., reports changes in beneficial ownership due to tax withholding and cancellation of performance-based restricted stock units.

Summary

• On June 30, 2024, Stephen Henry Wood, EVP and Chief Financial Officer of Conduent Inc., reported changes in his beneficial ownership of Conduent Inc. stock.
• 2,757 shares were withheld to cover taxes on vested Restricted Stock Units at a price of $3.26 per share.
• Additionally, 10,276 performance restricted stock units granted on June 30, 2021, were cancelled because the share price condition was not met.
• Following these transactions, Wood directly owns 834,184 shares of Conduent Inc. common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While the tax withholding is a normal occurrence, the cancellation of performance-based stock units due to unmet targets is a slightly negative signal.

Negatives

• 10,276 performance restricted stock units were cancelled because the share price condition was not met, indicating underperformance relative to the set target.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The cancellation of performance-based stock units suggests that the company did not meet certain performance targets.

Stakeholder Impact

• Shareholders may be concerned about the cancellation of performance restricted stock units, as it indicates that the company did not meet certain performance targets.

Key Dates