CONDUENT INCORPORATED (NYSE:CNDT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Effective October19, 2017, Conduent Incorporated (the “Company”) appointed Allan Cohen, Vice President and Chief Accounting Officer. Mr.Cohen, age 47, will oversee the Company’s accounting matters. Jay Chu will continue in the role of Vice President Finance, but will no longer serve as the Company’s principal accounting officer as of the date of Mr.Cohen’s appointment.
Prior to this appointment, Mr.Cohen served as Senior Vice President and Controller of NBCUniversal since 2011. He also served as Vice President, Assistant Controller at Time Warner, Professional Accounting Fellow in the Division of Corporate Finance at the Securities and Exchange Commission and Senior Manager at PriceWaterhouseCoopers. Mr.Cohen holds a B.S. in Accounting from Yeshiva University and is a Certified Public Accountant in the State of New York.
The following compensation arrangements for Mr.Cohen have been approved: (1)annual base salary of $400,000; (2)participation in the Annual Performance lncentive Plan beginning in 2018 with an annual target level of 60% of base salary, which payout can be up to two times target; (3)participation in the Executive Long-Term Incentive Plan (“ELTIP”) beginning in 2018 with a target grant award of $250,000; and (4)a sign-on ELTIP grant of $250,000. In addition, Mr.Cohen will be eligible to participate in benefits as may be offered from time to time to other similarly situated employees including severance and participation in the Company’s 401(k) plan with Company match.
About CONDUENT INCORPORATED (NYSE:CNDT)
Conduent Incorporated is a business process services company. The Company’s segments include Commercial Industries, Healthcare, Public Sector and Other. Its Commercial Industries segment provides business process services and customized solutions to customers of industries. Its Healthcare segment provides industry-centric business process services to customers across the healthcare industry, including providers, payers, employers, pharmaceutical and life science companies and government agencies. Its Public Sector segment provides government-centric business process services to the United States federal, state and local and foreign governments for transportation, public assistance, program administration, transaction processing and payment services. Its other segment includes Government Health Enterprise Medicaid Platform business. It serves customers in various areas, such as aerospace and defense, automotive services, banking, chemical, insurance, transportation and utilities.