secwatch.observer — SEC 8-K summary
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Issuer:     CONDUENT Inc (CNDT)
CIK:        0001677703
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001677703-24-000094
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 1.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Conduent repurchases Icahn's 38.1M shares for $132M; three Icahn directors resign
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- Repurchased 38,149,336 shares from Carl Icahn and affiliates at $3.47/share, aggregate ~$132M.
- Funded from cash on hand and existing credit facility; Icahn Parties now hold zero Conduent shares.
- Icahn-affiliated directors Hunter Gary, Jesse Lynn, Steven Miller resigned from board.
- Independent director Scott Letier appointed to Audit Committee to fill vacancy.
- Icahn Agreement terminated; standstill provisions remain until 30 days after 2026 annual meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677703/000167770324000094/0001677703-24-000094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677703/000167770324000094/cndt-20240608.htm
  HTML page:      https://secwatch.observer/filing/0001677703-24-000094

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer