Summary
Cognizant Technology Solutions Corporation (CTSH) filed an 8-K on May 27, 2005, to provide updated information on its outstanding Class A common stock and stock options. As of May 2, 2005, the company reported 135,400,554 shares of Class A common stock outstanding. This filing serves to update stakeholders on the company's equity structure, which is important for understanding potential dilution and the overall capitalization of the company. The report also details the status of stock options as of April 30, 2005. A significant number of options were outstanding, with the majority under the 1999 Incentive Compensation Plan. Investors should note the total number of options, the weighted average exercise price, and the number of options available for future grants, as these figures provide insight into future equity issuance and compensation practices.
Key Highlights
- 1As of May 2, 2005, Cognizant had 135,400,554 shares of Class A common stock outstanding.
- 2As of April 30, 2005, there were 18,980,719 stock options outstanding.
- 3The majority of outstanding options (18,425,304) were granted under the 1999 Incentive Compensation Plan.
- 4The weighted average exercise price for all outstanding options was $11.058.
- 5Options outstanding under the Non-Employee Director Stock Option Plan had a significantly higher weighted average exercise price of $23.395.
- 6All disclosed stock option plans have been approved by Cognizant's stockholders.
- 7There were 2,023,940 stock options available for future grants as of April 30, 2005.