Conduent Inc. has announced significant changes to its Annual Performance Incentive Plan (APIP) for its named executive officers. Effective May 20, 2025, approximately 80% of the short-term incentive targets will be awarded in common stock instead of cash. This will be implemented through performance-based restricted common stock awards, known as APIP Share Grants. In cases of voluntary termination after March 30, 2026, or involuntary termination without cause, a pro-rata portion of these grants will vest, contingent on performance goals and length of service. Furthermore, in the event of a change in control, performance goals will be considered met, and awards will transition to time-based vesting, payable in cash. The agreement also stipulates full vesting under qualified retirement for some executives and outlines conditions for accelerated vesting following a change in control.
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