Company: CNDT
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001677703-25-000062
Chunk: 37

Company: CONDUENT Inc
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 37
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 we repurchased 52 million shares of our common stock and voluntarily prepaid against our term loans. Our 2024 short-term incentive plan funding results reflect Conduent’s financial and operating results achieved throughout 2024.

Annual Performance Incentive Plan (“ APIP ”) Design and Results

Our named executive officers participate in Conduent’s APIP, an annual incentive plan in which many associates at various management levels across Conduent’s population participate. The performance measures and weightings in the 2024 APIP were Adjusted Revenue (weighted 40%), Adjusted EBITDA Margin (weighted 40%) and Net ARR Activity (weighted 20%). Our 2024 financial results led to a 72% of target funding for our APIP.

The 2024 Adjusted Revenue, Adjusted EBITDA Margin and Net ARR Activity metric performance goals were established in March 2024. The Compensation Committee did not reset these goals or make upward adjustments in determining overall APIP funding.

(1) Please see “Non-GAAP Financial Measures” beginning on page 49 of this Proxy Statement for information on our Non-GAAP financial measures.

### Long-Term Incentive Plan (“

### LTIP

### ”) Results
2024 LTIP Design

Our 2024 LTIP grants consisted of time-based restricted stock units (“ RSUs ”) with respect to 35% of the grant, vesting ratably over a three-year period; and performance-based restricted stock units (“ PRSUs ”) with respect to 65% of the grant, of which approximately 70% are based on revenue growth (“ 2024 PRSU—Revenue Growth ”) and the remaining approximate 30% are based on relative Total Shareholder Return (“ 2024 PRSU—rTSR ”), each over a three-year period. The 2024 PRSU—rTSR is based on Conduent’s three-year total shareholder return relative to our August 2023 compensation peers, and the PRSU—Revenue Growth is based on our average annual revenue growth for the three-year period, ending December 31, 2026. The 2024 LTIP grant balances the need to increase revenues and drive shareholder value, while fostering participant retention and stock ownership.

2022 LTIP Results

Our 2022 LTIP grant consisted of time-based RSUs with respect to 50% of the grant, vesting ratably over a three-year period, and PRSUs with respect to