SEC Form 4 · accession 0001209191-15-020833
COGNIZANT TECHNOLOGY SOLUTIONS CORP · CTSH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven Schwartz
Officer — EVP, Chief Legal & CAO.
Period of report
Mar 1, 2015
Accepted (ET)
Mar 3, 2015 · 12:27 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001058290
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Mar 1, 2015 | M | 1,202 | $0.00 | A | 1,202 | D | |
| Class A Common StockF2 | Mar 1, 2015 | F | 450 | $62.485 | D | 752 | D | |
| Class A Common StockF4,F3 | Mar 2, 2015 | S | 752 | $62.82 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5,F6 | $0.00 | Mar 1, 2015 | M | 1,202 | D | Mar 1, 2015 | Mar 1, 2015 | Class A Common Stock | 1,202 | 13,222 | D |
Explanation of responses
- F1Shares of the Company's Class A Common Stock received from the vesting of 1/12 of the restricted stock unit award granted on December 1, 2014.
- F2Represents the portion of shares of Class A Common Stock that the Company determined to settle in cash to pay applicable tax withholding.
- F3Such shares were sold pursuant to a Rule 10b5-1 Sales Plan.
- F4The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.70 to $62.92. The reporting person undertakes to provide to Cognizant Technology Solutions Corporation, any security holder of Cognizant Technology Solutions Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.
- F5Each restricted stock unit represents a contingent right to receive one share of the Company's Class A Common Stock.
- F6The restricted stock units were granted on December 1, 2014 under the Cognizant Technology Solutions Corporation 2009 Incentive Compensation Plan and vest in quarterly installments over three years, with 1/12th of the stock units vesting on each quarterly vesting date so that the stock units will be fully vested on the twelfth quarterly vesting date. The stock units will be fully vested on December 1, 2017.