Cognizant (NASDAQ:CTSH), a leading AI builder and technology services provider, today announced that it has entered into accelerated share repurchase ("ASR") agreements with Truist Bank and BNP Paribas to repurchase an aggregate of $500 million of Cognizant's Class A common stock. The ASR announced today is part of the Company's updated 2026 share repurchase plan announced on May 18, 2026.

Under the terms of the ASR agreements, approximately 7.8 million of the shares to be repurchased will be delivered to Cognizant on May 21, 2026. The final number of shares to be repurchased will be based on the volume-weighted average stock price of Cognizant's Class A common stock less a discount and subject to potential adjustments pursuant to the terms of the ASR agreement.