4/A: Xerox Director Amends SEC Filing to Correct Deferred Stock Unit Award

Xerox Holdings Corp. Director Priscilla Hung filed an amended Form 4 to correct a clerical error regarding the number of Deferred Stock Units awarded on May 21, 2025.

Summary

• This document is an amendment (Form 4/A) to a Form 4 originally filed on May 23, 2025, by Priscilla Hung, a Director of Xerox Holdings Corp. (XRX).
• The amendment corrects an inadvertent clerical error in reporting the number of Deferred Stock Units (DSUs) awarded to Ms. Hung on May 21, 2025.
• The correct number of DSUs awarded on May 21, 2025, is 42,134, not the previously reported 44,378.
• Each DSU represents the right to receive one share of common stock upon the reporting person's termination of service as a director or death, subject to any applicable deferral period.
• The 42,134 DSUs awarded on May 21, 2025, are scheduled to vest on May 21, 2026.
• The director's DSU balance also reflects an additional 1,695 DSUs awarded from dividend equivalents attributable to DSUs held as of the relevant record dates.
• Following these reported transactions, Director Priscilla Hung beneficially owns a total of 59,981 Deferred Stock Units.

Sentiment

Score: 5

Explanation: The document is a neutral compliance filing correcting a clerical error, neither indicating positive nor negative operational or financial performance for the company.

Positives

• The filing demonstrates the company's commitment to accurate and transparent financial reporting by promptly correcting a clerical error.
• The correction ensures that public disclosures regarding director compensation and beneficial ownership are precise.

Negatives

• An initial clerical error occurred in the original Form 4 filing, necessitating this amendment.

Risks

• Risk of inaccurate public disclosure due to clerical errors, which was mitigated by this amendment.

Future Outlook

The awarded Deferred Stock Units (DSUs) are scheduled to vest on May 21, 2026, at which point they will convert into common stock shares, subject to the terms of the DSU plan.

Management Comments

• "This amendment is being filed to correct an inadvertent clerical error in reporting the number of DSUs awarded on May 21, 2025. The correct number of DSUs awarded is 42,134, not 44,378, as was originally reported on the Form 4 filed on May 23, 2025."

Industry Context

This filing is a standard compliance update for insider transactions, common across all publicly traded companies, and does not reflect specific industry trends in the business services or technology sectors where Xerox operates. It primarily serves to maintain accurate public records of director compensation and beneficial ownership.

Comparison to Industry Standards

• NA (This document is a compliance filing for an individual director's stock units and does not contain information suitable for comparison to industry-wide financial or operational benchmarks.)

Corporate Governance

Related Party Transactions

• Award of 42,134 Deferred Stock Units (DSUs) to Director Priscilla Hung as part of her compensation package.
• Award of 1,695 DSUs from dividend equivalents attributable to DSUs held by Director Priscilla Hung.

Stakeholder Impact

• **Shareholders:** Provides accurate information regarding director compensation and beneficial ownership, ensuring transparency and enabling informed investment decisions.
• **Regulatory Authorities (SEC):** Demonstrates compliance with Section 16(a) reporting requirements and the company's commitment to correcting errors, maintaining regulatory trust.

Next Steps

• The Deferred Stock Units (DSUs) awarded on May 21, 2025, are scheduled to vest on May 21, 2026.

Key Dates

Keywords

Xerox, XRX, SEC filing, Form 4/A, Deferred Stock Units, DSU, director compensation, stock award, amendment, corporate governance, insider transaction