APPLEBY ADAM D 4
4 · CONDUENT Inc · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Conduent (CNDT) EVP Adam Appleby Receives Equity Awards
What Happened
Adam D. Appleby, Executive Vice President, Public Sector at Conduent (CNDT), was granted equity awards on April 1, 2026. The filing reports two grants: 244,360 restricted stock units (RSUs) valued at $1.33 each (total $324,999) and 122,180 performance restricted stock units (PRSUs) at $1.33 each (total $162,499), for a combined 366,540 units worth about $487,498. These are awards (code A) — not open-market purchases or sales — and convert to common stock only upon vesting.
Key Details
- Transaction date and price: April 1, 2026; $1.33 per unit for both grants.
- Award amounts: 244,360 RSUs and 122,180 PRSUs (total 366,540 units).
- Reported value: ~$324,999 (RSUs) + ~$162,499 (PRSUs) = ~$487,498 total.
- Shares owned after transaction: Not specified in the provided filing.
- Filing: Reported on April 3, 2026 (appears timely under Form 4 rules).
- Transaction code: A (award/grant).
- Footnotes of note:
- RSUs vest in three equal installments on 12/31/2026, 12/31/2027 and 12/31/2028; each RSU converts to one share on vesting.
- PRSUs require continued employment through 12/31/2028 plus a share-price performance condition measured by any 120-consecutive-day average during 4/1/2026–12/31/2028: 25% vests at $2.50 avg, 50% at $3.00, 75% at $4.00, 100% at $5.00 or more (with linear interpolation). PRSUs settle only in shares.
- Vested PRSU shares are paid within 60 days after the vesting date.
Context
These grants are typical long‑term incentive awards: RSUs provide time‑based retention incentives, while PRSUs tie payout to both continued employment and stock‑price performance. Because these are awards (not purchases), they do not represent a cash outlay by the insider and do not by themselves indicate immediate buying or selling activity.
Insider Transaction Report
- Award
Common Stock
[F1]2026-04-01$1.33/sh+244,360$324,999→ 607,369 total - Award
Common Stock
[F2][F3]2026-04-01$1.33/sh+122,180$162,499→ 729,549 total
Footnotes (3)
- [F1]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.
- [F2]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.
- [F3]Vested shares are paid out within 60 days following the Vesting Date. Each PRSU converts to one share of Common Stock upon vesting.