Form 4: Kyndryl SVP Vineet Khurana Reports Share Transactions Following PSU Vesting
SEC Form 4 Filing
Kyndryl's SVP & Global Controller, Vineet Khurana, reports the settlement of performance share units (PSUs) and associated tax withholding.
Summary
- On February 1, 2025, Vineet Khurana, SVP & Global Controller of Kyndryl Holdings, Inc., reported transactions related to performance share units (PSUs).
- 10,870 shares of common stock were acquired upon the settlement of PSUs previously granted on December 16, 2021.
- These PSUs vested based on Kyndryl's achievement of pre-established share price targets over a three-year performance period ending December 15, 2024.
- 4,102 shares were withheld by the Issuer at a price of $37.7 to satisfy the Reporting Person's tax withholding obligations.
- Following these transactions, Khurana beneficially owns 87,877 shares of Kyndryl common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade in their company's stock. This filing indicates the vesting of performance-based equity compensation.
Stakeholder Impact
- The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares upon PSU vesting.
- The tax withholding benefits the government.
Key Dates
| Date | Description |
|---|---|
| 12/16/2021 | Date of original grant of Performance Share Units (PSUs) |
| 12/15/2024 | End date of the three-year performance period for PSU vesting |
| 02/01/2025 | Date of transaction (settlement of PSUs and tax withholding) |
| 02/04/2025 | Date of signature on the Form 4 filing |
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