Company: CNDT
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001677703-25-000062
Chunk: 59

Company: CONDUENT Inc
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 59
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 $500,000 to $525,000 and 75% to 85% for Mr. Krawitz. The amount for Mr. McDaniel has also been prorated based upon his hire date of July 17, 2024. The actual APIP payout, which was based on 2024 performance is presented in the “Summary Compensation Table” in column (B).

(B) These columns reflect the threshold, target and maximum payout opportunities for the 2024 LTIP PRSU awards set by the Compensation Committee.

For the PRSU awards granted to Messrs. Skelton, Wood, Krawitz and Prout, the number of units at target for the 2024 PRSU—rTSR awards was determined by dividing the approved values of the respective awards by the closing stock price on the April 1, 2024 grant date ($3.27) and then applying a factor of 1.0215, as calculated using the Monte Carlo simulation, and rounding the number of shares down to the nearest share. The PRSU—Revenue Growth shares were determined by dividing the approved value of the award by the closing stock price on the April 1, 2024 grant date ($3.27) and rounding down to the nearest share. For the PRSU award granted to Mr. McDaniel, the number of units at target for the 2024 PRSU—rTSR award was determined by dividing the approved value (inclusive of an annual grant value of $900,000 and a one-time sign on grant value of $100,000 in connection with his hiring) of the respective award by the closing stock price on the July 31, 2024 grant date ($4.08) and then applying a factor of 1.0215, as calculated using the Monte Carlo simulation, and rounding the number of shares down to the nearest share. The number or PRSU—Revenue Growth shares was determined by dividing the approved value of the award by the closing stock price on the July 31, 2024 grant date ($4.08) and rounding down to the nearest share.

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The April 1, 2024 and July 31, 2024 PRSU grants will be subject to the same Revenue Growth and rTSR performance measures, while the time-based requirements will be measured on December 31, 2026 and July 31, 2027, respectively.

The threshold number of shares is the minimum number of