Company: CNDT
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001677703-25-000062
Chunk: 23

Company: CONDUENT Inc
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 23
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 “related person” to act in the best interest of the Company. No member of the Corporate Governance Committee may participate in the review, approval or ratification of a transaction with respect to which he or she is a “related person.”

#### Related Person Transactions
Carl C. Icahn and his affiliates (collectively, the “ Icahn shareholders ”) were historically classified as a related party due to the Icahn shareholders being a beneficial owner of more than five percent of the Company’s voting securities.

On December 31, 2016, the Company entered into a Joinder Agreement to a letter agreement, dated as of January 28, 2016, entered into by Xerox Corporation, the Company’s former parent company, with the Icahn shareholders (the “Icahn Agreement”), pursuant to which, among other things, Hunter Gary, Jesse A. Lynn and Steven Miller were appointed to the board of directors of the Company.

On June 8, 2024, the Company entered into a purchase agreement (the “ Purchase Agreement ”) with the Icahn shareholders pursuant to which the Company agreed to purchase an aggregate of approximately 38 million shares of the Company’s common stock at a price of $3.47 per share, the closing price on June 7, 2024, the last full trading day prior to the execution of the Purchase Agreement, for an aggregate purchase price of approximately $132 million. The purchase was completed and settled on June 10, 2024, and was funded through a combination of cash on hand and a drawdown under the Company’s revolving credit facility, which has since been repaid.

Pursuant to the terms of the Purchase Agreement and effective upon the closing of the repurchase, the Company and the Icahn shareholders mutually agreed to terminate the Icahn Agreement; provided, however, that the standstill provisions contained in the Icahn Agreement will remain in effect following the closing of the repurchase until the date that is thirty (30) days following the conclusion of the 2026 annual meeting of shareholders of the Company, subject to certain modifications set forth therein. Concurrent with the closing of the Purchase Agreement, Hunter Gary, Jesse A. Lynn and Steven Miller, who were employed by the Icahn shareholders, resigned from the Board and all committees thereof.

In the normal course of business, the Company provided services to (including human resources, end-user support and other services and solutions), and purchased from (including office equipment and related services and supplies