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|4Feb 12, 4:26 PM ET

APPLEBY ADAM D 4

Research Summary

AI-generated summary

Updated

Conduent (CNDT) EVP Adam Appleby Receives RSU Payout

What Happened

  • Adam D. Appleby, Executive Vice President, Public Sector at Conduent Inc., had performance restricted stock units (PRSUs) that vested/settled on Dec 31, 2025 and were certified by the Compensation Committee on Feb 10, 2026. As reported on Feb 10, 2026: 8,112 shares were issued to him (code A), 9,150 shares were disposed to the issuer (forfeited) (code D), and 9,953 shares were withheld to cover taxes (two F transactions totaling $14,233 at $1.43/share). This was a payout/vesting event (award), not an open-market purchase or sale.

Key Details

  • Transaction date(s): February 10, 2026. Filing date: February 12, 2026 (appears to be timely).
  • Reported transactions (per filing):
    • A: Acquired 8,112 shares (issued on vesting) @ $0.00
    • D: Disposed (forfeiture) 9,150 shares @ $0.00
    • F: Withheld 5,276 shares for taxes @ $1.43 = $7,545
    • F: Withheld 4,677 shares for taxes @ $1.43 = $6,688
    • Total shares withheld for taxes: 9,953; total tax withholding value reported: $14,233
  • Shares owned after transaction: not specified in the provided excerpt of the filing.
  • Relevant footnotes:
    • F1: Partial forfeiture of PRSUs tied to a TSR performance condition (Apr 1, 2023–Dec 31, 2025); vested with a 50% payout as certified Feb 10, 2026.
    • F3: Shares issued reflect vesting of PRSUs tied to a revenue-growth condition for the same period; payout ~22%.
    • F2: Indicates shares were withheld specifically to pay tax obligations on vested PRSUs.
  • Filing timeliness: The form was filed two days after the reported transactions — generally within the required Section 16 reporting window.

Context

  • These transactions reflect PRSU vesting and settlement (awards) and tax-withholding; they are not open-market sales or purchases. Dispositions to the issuer reflect forfeited units due to performance outcomes rather than a manager-initiated sale.
  • For retail investors: awards/vests show how long-term compensation is settling but do not directly signal the insider buying or selling stock in the market. Tax-withholding via share surrender is a routine administrative step.