Conduent (CNDT) accounting chief receives RSU and PRSU stock grants
Rhea-AI Filing Summary
Conduent Inc.’s Principal Accounting Officer, George Joseph Abate, reported receiving equity awards in the form of restricted stock units and performance restricted stock units tied to the company’s common stock. These are compensation-related grants, not open‑market purchases.
The filing shows awards covering 56,390 and 28,195 shares at a reference price of $1.3300 per share, with total direct holdings increasing to 157,138 shares after the transactions. Time-based RSUs granted on April 1, 2026 vest in three equal installments on December 31, 2026, December 31, 2027 and December 31, 2028, each converting into one share when vested.
Performance RSUs vest only if Mr. Abate remains employed through December 31, 2028 and if the average closing stock price over any 120 consecutive days between April 1, 2026 and December 31, 2028 meets share price hurdles starting at $2.50 per share and scaling up to $5.00 or more.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 56,390 | $1.33 | $75K |
| Grant/Award | Common Stock | 28,195 | $1.33 | $37K |
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.