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SYNT > SEC Filings for SYNT > Form 8-K on 16-Jul-2014All Recent SEC Filings

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Form 8-K for SYNTEL INC


16-Jul-2014

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On July 13, 2014, the Board of Directors of Syntel, Inc. (the "Company") increased the size of the Company's Board of Directors from seven to nine members. Also on July 13, 2014, the Company's Board of Directors elected Nitin Rakesh and Vinod K. Sahney as directors to fill the vacancies created by the increase in the size of the Board of Directors.

Neither Mr. Rakesh nor Dr. Sahney are a party to any arrangement or understanding pursuant to which they were selected as a director, nor are Mr. Rakesh or Dr. Sahney a party to any transaction with a related person, or proposed transaction with a related person, required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securites Exchange Act of 1934.

As a non-employee director, Dr. Sahney will receive the same compensation package provided to all of the Company's non-employee directors, as disclosed in the Company's Proxy Statement for the Annual Shareholders' Meeting held on June 3, 2014, including the grant of restricted stock units upon his election as director. Because Dr. Sahney is being elected mid-term, he will receive a pro-rated portion of the annual grant of restricted stock units, in this case, 918 restricted stock units. As an employee director, Mr. Rakesh receives no additional compensation for serving on the Company's Board of Directors.

A copy of the press release issued by the Company announcing Mr. Rakesh's and Dr. Sahney's election to the Board is furnished as Exhibit 99.1.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Number

99.1 Press Release dated July 16, 2014.

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