Ayyar Balu Ganesh 4

What Happened
Ayyar Balu Ganesh, President — APJ and ISG at Cognizant Technology Solutions (CTSH), had 8,619 shares issued to him on March 15, 2026 through conversion/settlement of equity awards. The amounts break down to 848 shares from the quarterly vesting of RSUs (1/12th of a 10,178‑RSU grant) and 7,771 shares from the settlement of performance stock units (PSUs) whose performance period partially vested. The Form 4 records these as derivative conversions (transaction code M); the entries show $0.00 proceeds for the derivative disposal lines, indicating no open‑market sale or cash proceeds—shares were settled/issued to him.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (filed timely).
• Shares received: 848 RSU shares (1/12th quarterly vest of a March 3, 2025 grant) + 7,771 PSU shares (portion of March 6, 2023 grant that vested/was settled). Total = 8,619 shares.
• Price / proceeds: $0.00 shown on the derivative disposition lines — reflects conversion/settlement into shares, not a sale. No cash consideration reported.
• Footnotes: RSUs and PSUs each represent a contingent right to one share; PSUs’ partial performance was determined satisfied on Feb 25, 2026 and settled Mar 15, 2026. The RSU grant vests quarterly (1/12th) through March 15, 2028.
• Shares owned after transaction: not specified in the provided filing excerpt.
• No 10b5-1 plan, tax‑withholding share surrender, or open‑market sale reported in the provided details.

Context

• This was award vesting/settlement (not a purchase or market sale). Such conversions are routine compensation events for executives and do not by themselves indicate a buy/sell market signal.
• Transaction code M simply reflects exercise/conversion of derivative awards into shares. Because the Form 4 shows $0 proceeds and no immediate sale, this was not a cashless exercise or disposition to the open market.