Cognizant up almost 5% after outlining executive bonus payouts

theflyonthewall.com

Cognizant (CTSH), which traded up almost 5% in today's after hours session, outlined in a regulatory filing both the restricted stock units and performance units due to certain of the company's executives. The filing indicated 0% of the performance units would be awarded if the company's FY13 revenue came in below $8.22B, and only 50% of the units would be awarded if FY13 revenues come in below $8.515B, with a 200% payout of the performance units coming at revenues of $9.175B. According to First Call, consensus estimates for FY13 revenues are currently $8.58B.

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