Company: CNDT
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001677703-25-000062
Chunk: 47

Company: CONDUENT Inc
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 47
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 incentive grant on July 31, 2024, after his start of employment with Conduent on July 17, 2024. Additional information regarding the 2024 LTIP awards can be found in the “Summary Compensation Table” and the “Grants of Plan-Based Awards in 2024” table.

Long-Term Incentive Program and Performance Measures

Long-term incentive awards granted on April 1, 2024 and July 31, 2024 were made pursuant to the Conduent Incorporated 2021 Performance Incentive Plan. 35% of the value of each award was granted in the form of Restricted Stock Units; 45% of the value in the form of Performance Restricted Stock Units with Revenue Growth Targets, referred to as “2024 PRSU—Revenue Growth”; and 20% in the form of Performance Restricted Stock Units with a relative TSR measure compared with our 2023-2024 Peer group, referred to as “2024 PRSU—rTSR.” Revenue Growth and rTSR were selected as our long-term metrics to emphasize our continued focus on growing revenues and increasing shareholder value.

Restricted Stock Units granted on April 1, 2024 and July 31, 2024, vest 1/3 each on, December 31 of 2024, 2025 and 2026; and July 31, 2025, 2026 and 2027, respectively; and the number of RSU shares are calculated for each named executive officer by dividing 35% of the approved target long-term incentive award value by the closing price of Conduent Common Stock on the grant effective date. The RSU shares are then rounded down to the nearest whole share.

Our 2024 PRSUs have service conditions that require Messrs. Skelton, Wood, Krawitz and Prout to remain with the Company through December 31, 2026, and Mr. McDaniel to remain with the Company through July 31, 2027. The target number of 2024 PRSU—Revenue Growth shares for our named executive officers was determined by dividing 45% of the approved target long-term incentive award value by the closing price of

Conduent Common Stock on the grant effective date, and then rounding down to the nearest whole share. The target number of 2024 PRSU—rTSR shares granted to each named executive officer was determined by dividing 20% of the named executive officer’s approved long-term