SEC Form 4 · accession 0000899243-16-014421
Performant Financial Corp · PFMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey Haughton
Officer — Executive Vice President
Period of report
Feb 23, 2016
Accepted (ET)
Feb 25, 2016 · 9:12 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001550695
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F1 | — | Feb 23, 2016 | A | 90,000 | A | — | — | Common Stock | 90,000 | 90,000 | D |
| Employee Stock Option (right to buy)F5 | $1.71 | Feb 23, 2016 | A | 60,000 | A | — | Feb 23, 2026 | Common Stock | 60,000 | 60,000 | D |
| Restricted Stock UnitsF3,F1 | — | holding | — | — | — | — | — | Common Stock | 30,000 | 30,000 | D |
| Restricted Stock UnitsF4,F1 | — | holding | — | — | — | — | — | Common Stock | 75,000 | 75,000 | D |
| Employee Stock Option (right to buy)F6 | $10.55 | holding | — | — | — | — | Jul 15, 2024 | Common Stock | 100,000 | 100,000 | D |
| Employee Stock Option (right to buy)F7 | $3.57 | holding | — | — | — | — | Mar 17, 2025 | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of PFMT's common stock. The units were awarded at no cost to Reporting Person.
- F2Restricted Stock Unit Award granted on February 23, 2016 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date, provided that the Reporting Person remains in continuous service through each vest date.
- F3Restricted Stock Unit award was granted on 7/15/2014. The remaining 30,000 units will vest and become exercisable in 10,000 unit increments on each of 7/15/2016, 7/15/2017, and 7/15/2018, provided that the Reporting Person remains in continuous service through each vest date.
- F4Restricted Stock Unit award was granted on 3/17/2015. 37,500 units will vest and become exercisable on 3/05/2016, 18,750 units will vest and become exercisable on 3/05/2017 and the remaining 18,750 units will vest and become exercisable on 3/05/2018, provided that the Reporting Person remains in continuous service through each vest date.
- F5This option vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date.
- F6The option grant will vest over a four-year period from the date of grant. 39,384 options have become vested and exercisable as of 2/15/2016. The remaining options will become vested and exercisable in monthly installments until 7/15/2018.
- F7The option grant will vest over a four-year period. Currently, none of the options are exercisable and all of the options are outstanding. 25,000 options will vest and become exercisable on 3/17/2016. The remaining options will vest and become exercisable on a monthly basis from 4/17/2016 until 7/25/2019.