Chugh Harsh 4
4 · Kyndryl Holdings, Inc. · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Kyndryl (KD) Interim CFO Harsh Chugh Receives PSU Award; Shares Withheld
What Happened
Harsh Chugh, Kyndryl's Interim Chief Financial Officer, had 40,718 performance-based restricted shares (PSUs) vest on May 28, 2026 (reported as an award/acquisition). To satisfy tax withholding on the vesting, 9,917 of those shares were withheld at an implied withholding price of $12.16 per share, representing $120,591. The award resulted from achievement of pre-established performance targets over the three-year performance period April 1, 2023 – March 31, 2026. The withheld shares were not sold on the open market but offset from the issued vested shares.
Key Details
- Transaction date: 2026-05-28; Form 4 filed: 2026-06-01 (appears timely).
- Award (code A): 40,718 shares acquired upon PSU vesting; reported acquisition price $0.00.
- Withholding (code F): 9,917 shares withheld to cover tax liability at $12.16 per share = $120,591 (these shares were offset, not sold).
- Shares owned after the transaction: not specified in the filing.
- Footnotes: F1 explains the PSUs vested after meeting performance targets for 4/1/2023–3/31/2026; F2 confirms withheld shares were used to satisfy tax withholding and were not sold.
Context
This was a compensation event (vesting of performance shares), not an open-market purchase or sale by the insider. Tax-withholding via share retention is common when equity awards vest and does not necessarily signal a change in insider sentiment.
Insider Transaction Report
- Award
Common Stock
[F1]2026-05-28+40,718→ 141,061 total - Tax Payment
Common Stock
[F2]2026-05-28$12.16/sh−9,917$120,591→ 131,144 total
Footnotes (2)
- [F1]Represents shares acquired by the Reporting Person upon the achievement of pre-established performance targets over a three-year performance period beginning on April 1, 2023 and ending on March 31, 2026, pursuant to a previously granted award of performance share units ("PSUs").
- [F2]Represents the withholding from delivery of shares of common stock from the Issuer to satisfy the Reporting Person's tax withholding obligation upon the vesting of the PSUs described herein. These shares of common stock were not sold by the Reporting Person but were instead offset from the total number of vested shares of common stock received by the Reporting Person from the Issuer.