SEC Form 4 · accession 0001209191-17-018190
COGNIZANT TECHNOLOGY SOLUTIONS CORP · CTSH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean Middleton
Officer — Pres - Cognizant Accelerator
Period of report
Mar 2, 2017
Accepted (ET)
Mar 6, 2017 · 1:41 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001058290
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 2, 2017 | A | 3,669 | A | — | — | Class A Common Stock | 3,669 | 3,669 | D |
| Restricted Stock UnitsF3,F4 | — | Mar 2, 2017 | A | 1,075 | A | — | — | Class A Common Stock | 1,075 | 1,075 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of the Company's Class A Common Stock.
- F2The restricted stock units were granted on March 2, 2017 under the Cognizant Technology Solutions Corporation 2009 Incentive Compensation Plan and vest in quarterly installments over three years, commencing on June 2, 2017, 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 March 2, 2020.
- F3Represents the total number of performance-based restricted stock units which vested based upon attainment by the Company of certain performance milestones, as determined by the Company's compensation committee on March 2, 2017 based upon the audited financials for the 2016 fiscal year. The performance-based restricted stock units were granted on February 16, 2016 under the Cognizant Technology Solutions 2009 Incentive Compensation Plan. In accordance with the performance-based restricted stock unit award, the vested performance-based restricted stock units shall be issued on June 1, 2017, provided the reporting person remains in the Company's service through such date. (Continued in the next footnote.)
- F4(Continued from the previous footnote.) Each performance-based restricted stock unit represents a contingent right to receive one share of the Company's Class A Common Stock. The reporting person will disclose the receipt of shares of the Company's Class A Common Stock underlying the performance-based restricted stock units on Table I of Form 4, if and when such reporting person satisfies the aforementioned service-based conditions.