Form 4: Kyndryl Executive Edward Sebold Settles Performance Share Units, Adjusts Holdings
SEC Form 4 Filing
General Counsel and Secretary Edward Sebold settled performance share units (PSUs) for Kyndryl Holdings, Inc., resulting in adjustments to his beneficial ownership of common stock.
Summary
- On February 1, 2025, Edward Sebold, General Counsel and Secretary of Kyndryl Holdings, Inc., settled 21,739 performance share units (PSUs) into shares of common stock.
- The settlement of these PSUs, which were granted on December 16, 2021, was based on Kyndryl's achievement of pre-established share price targets over a three-year performance period ending December 15, 2024.
- Sebold also had 7,839 shares withheld to satisfy tax obligations at a price of $37.7 per share.
- Following these transactions, Sebold directly owns 160,318 shares of Kyndryl common stock.
- The PSUs represent a contingent right to receive one share of Kyndryl's common stock, payable in either common stock or cash at the discretion of the issuer.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it primarily reports transactions related to executive compensation. The vesting of PSUs suggests the company met certain performance targets, which is mildly positive.
Positives
- The vesting of PSUs indicates that Kyndryl met certain share price performance targets set by the company.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The settlement of PSUs impacts shareholders by increasing the number of outstanding shares, although the effect is likely minimal given the relatively small number of shares involved.
- The transaction affects the reporting person's holdings and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| December 16, 2021 | Date the performance share units (PSUs) were initially granted. |
| December 15, 2024 | End date of the three-year performance period for the PSUs. |
| February 01, 2025 | Date of the transaction involving the settlement of PSUs and tax withholding. |
| February 04, 2025 | Date of the signature on the Form 4 filing. |
Keywords
Kyndryl, Sebold, Performance Share Units, PSUs, Common Stock, Beneficial Ownership, Form 4, SEC Filing, Executive Compensation
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