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December 4, 2012
18:50 EDTCTSHCognizant awards restricted stock units to senior management
On December 3, the Compensation Committee of the Board of Directors of Cognizant Technology Solutions, after thorough evaluation, granted the following awards of restricted stock units to certain executive officers of the company. Francisco D’Souza, CEO: 50,138; Gordon J. Coburn, President: 26,793; Rajeev Mehta, Group Chief Executive – Industries and Markets: 23,188; Ramakrishnan Chandrasekaran, Group Chief Executive – Technology and Operations: 17,220; Karen McLoughlin, CFO: 10,010; Steven Schwartz, Senior Vice President, General Counsel and Secretary: 5,049. The Stock Units vest in quarterly installments over three years so that the Stock Units shall be fully vested on the twelfth quarterly vesting date, which quarterly vesting date will occur on December 3, 2015; provided that the grantee remains in the Company’s service through each applicable vesting date. The Compensation Committee approved the grant and issuance of the Stock Units pursuant to the terms and conditions of the company’s 2009 Incentive Compensation Plan.
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