SEC Form 4 · accession 0000899243-17-006926
Performant Financial Corp · PFMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey Haughton
Officer — Chief Operating Officer
Period of report
Mar 6, 2017
Accepted (ET)
Mar 9, 2017 · 6:05 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001550695
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 6, 2016 | M | 18,750 | $0.00 | A | 51,437 | D | |
| Common StockF1 | Mar 6, 2016 | F | 8,209 | $1.71 | D | 43,228 | D | |
| Common Stock | Mar 7, 2016 | M | 22,500 | $0.00 | A | 65,728 | D | |
| Common StockF1 | Mar 7, 2016 | F | 9,500 | $1.65 | D | 56,228 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5,F3 | — | Mar 6, 2017 | M | 22,500 | D | — | — | Common Stock | 22,500 | 67,500 | D |
| Restricted Stock UnitsF6,F3 | — | Mar 7, 2017 | M | 18,750 | D | — | — | Common Stock | 18,750 | 18,750 | D |
| Restricted Stock UnitsF2,F3 | — | holding | — | — | — | — | — | Common Stock | 20,000 | 20,000 | D |
| Restricted Stock UnitsF4,F3 | — | holding | — | — | — | — | — | Common Stock | 82,270 | 82,270 | D |
Explanation of responses
- F1Shares surrendered to pay tax liability due on vesting of Restricted Stock Units.
- F2Restricted Stock Unit award was granted on July 15, 2014. The remaining 20,000 units will vest on July 15, 2017 and July 15, 2018, provided that the Reporting Person remains in continuous service through each vest date.
- F3Each restricted stock unit represents a contingent right to receive one share of PFMT's common stock. The units were awarded at no cost to the Reporting Person.
- F4Restricted Stock Unit Award granted on April 12, 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.
- F5Restricted Stock Unit Award granted on February 22, 2016. 25% of the shares vested on March 7, 2016, with 25% more vesting on each of the first, second and third anniversaries of the initial vest date, provided that the Reporting Person remains in continuous service through each vest date.
- F6Restricted Stock Unit Award granted on March 7, 2015. Upon the achievement of certain financial metrics the grant vested with respect to 50% of the awarded stock units on March 5, 2016, and 25% of the grant on March 5, 2017, and 25% of the grant will vest on March 5, 2018, provided that the Reporting Person remains in continuous service through each vest date.