Company: CNDT
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001677703-25-000062
Chunk: 48

Company: CONDUENT Inc
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 48
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 incentive award value by the grant date fair value per share, determined using a Monte Carlo simulation. The calculated 2024 PRSU—rTSR shares are then rounded down to the nearest whole share. Both types of 2024 PRSU awards cliff vest after three years; those granted on April 1, 2024 vest on December 31, 2026 and those granted on July 31, 2024 will vest on July 31, 2027, and have performance measures tied to three years.

The 2024 PRSU—Revenue Growth targets were established for each calendar year of 2024, 2025 and 2026. The three annual results will be averaged to determine a final payout. The Revenue Growth targets and payout percentages for both the April 1, 2024 and July 31, 2024 grants are as follows:

| Revenue Growth from Previous Fiscal Year |     |    2024 |     | 2025 |     | 2026 |     | Payout % |
| Maximum                                  |     |    0.1% |     | 4.5% |     | 6.0% |     | 150%     |
| Target                                   |     |  (1.9)% |     | 2.0% |     | 3.0% |     | 100%     |
| Threshold                                |     | (3.27)% |     | 0.5% |     | 1.0% |     | 50%      |

Similar to the Adjusted Revenue target goal in our APIP, the target 2024 growth goal was lower than 2023 actual results due to business runoff from prior years and lower volumes with some discrete drivers in our Government business. The results will be adjusted for any dispositions of businesses and asset sales, and may be adjusted for other unanticipated or unbudgeted changes. Linear interpolation will be used to determine payout for performance between payout levels.

The 2024 Revenue growth from 2023 fiscal year was (3.14)%, resulting in a 54.74% calculation for the first one-third measurement period of the award. This result will be averaged with the 2025 and 2026 results to determine a final payout.

For the 2024 PRSU—rTSR awards, we measure Conduent’s stock performance relative to our 2023-2024 proxy peer group, established in August 2023. See “Peer