Form 4: Conduent Inc. Executive Michael Krawitz Reports Acquisition of Common Stock and RSU/PRSU Awards

EVP, GC & Secretary of Conduent Inc., Michael Krawitz, reports the acquisition of common stock and awards of restricted stock units (RSUs) and performance restricted stock units (PRSUs) on April 1, 2024.

Summary

• On April 1, 2024, Michael Krawitz, EVP, GC & Secretary of Conduent Inc., acquired 117,737 shares of common stock at a price of $3.27.
• Krawitz also received an award of 68,724 performance restricted stock units (PRSUs) that can only be settled in Common Stock at a price of $3.27.
• Following these transactions, Krawitz beneficially owns 1,028,652 shares of Conduent Inc. common stock.
• The RSU awards vest in equal amounts on December 31, 2024, December 31, 2025, and December 31, 2026, and each RSU converts to one share of Conduent Incorporated common stock upon vesting.
• The PRSU award will cliff vest on December 31, 2026, subject to Conduent Incorporated's total shareholder return compared to its proxy peer group (rTSR) meeting certain thresholds.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating stock and equity awards to an executive. The executive's acquisition of shares could be seen as a slightly positive signal.

Positives

• The acquisition of shares by an executive could be seen as a positive signal about the executive's confidence in the company's future prospects.

Risks

• The value of the PRSUs is contingent on Conduent's performance relative to its peer group, introducing uncertainty regarding the actual payout.

Future Outlook

The vesting of the PRSUs is dependent on Conduent's total shareholder return compared to its proxy peer group, which will determine the final payout on December 31, 2026.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's view of the company's prospects.

Stakeholder Impact

• The transactions reported may influence investor perception of Conduent Inc.

Key Dates