Conduent (CNDT) EVP receives large RSU and PRSU stock awards
Rhea-AI Filing Summary
Conduent Inc executive Michael E. Krawitz, EVP, GC & Secretary, reported equity-based compensation grants of Common Stock on April 1, 2026. He received 413,533 restricted stock units (RSUs) at $1.33 per share that vest in equal portions on December 31, 2026, December 31, 2027, and December 31, 2028, with each RSU converting into one common share upon vesting. He was also granted 206,766 performance restricted stock units (PRSUs) at $1.33 per share, which require continued employment through December 31, 2028 and achievement of average closing stock price targets between $2.50 and $5.00 over any 120-day period within the measurement window from April 1, 2026 to December 31, 2028. Following these awards, his directly held common stock increased to 1,687,301 shares.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 413,533 | $1.33 | $550K |
| Grant/Award | Common Stock | 206,766 | $1.33 | $275K |
Footnotes (1)
- RSU Awards of restricted stock units ("RSUs") granted on April 1, 2026 that vest in equal amounts on December 31, 2026, December 31, 2027 and December 31, 2028. Each RSU converts to one share of Conduent Incorporated common stock ("Common Stock") upon vesting. Award of performance restricted stock units ("PRSUs") that can only be settled in Common Stock. PRSUs have two vesting conditions - a service condition and a share price condition. The service condition requires continued employment through December 31, 2028 (the "Vesting Date"). The share price condition requires an average closing stock price over any 120 consecutive calendar day period during the measurement period of April 1, 2026 through December 31, 2028 (the "average closing price") of at least $2.50 per share. If an average closing price of $2.50/share is achieved, 25% is eligible to vest; if an average closing price of $3.00/share is achieved, 50% is eligible to vest; if an average closing price of $4.00/share is achieved, 75% is eligible to vest, and if an average closing price of $5.00/share or greater is achieved, 100% is eligible to vest, with linear interpolation between stock prices. Vested shares are paid out within 60 days following the Vesting Date. Each PRSU converts to one share of Common Stock upon vesting.