SEC Form 4 · accession 0000899243-17-006929
Performant Financial Corp · PFMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hakan Orvell
Officer — Chief Financial Officer
Period of report
Mar 6, 2017
Accepted (ET)
Mar 9, 2017 · 6:10 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, 2017 | M | 18,750 | $0.00 | A | 54,897 | D | |
| Common StockF1 | Mar 6, 2017 | F | 8,209 | $1.71 | D | 46,688 | D | |
| Common Stock | Mar 7, 2017 | M | 30,000 | $0.00 | A | 76,688 | D | |
| Common StockF1 | Mar 7, 2017 | F | 12,374 | $1.65 | D | 64,314 | 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 UnitsF3,F2 | — | Mar 7, 2017 | M | 30,000 | A | — | — | Common Stock | 30,000 | 90,000 | D |
| Restricted Stock UnitsF5,F2 | — | Mar 6, 2016 | M | 18,750 | A | — | — | Common Stock | 18,750 | 18,750 | D |
| Restricted Stock UnitsF4,F2 | — | holding | — | — | — | — | — | Common Stock | 25,750 | 25,750 | D |
Explanation of responses
- F1Shares surrendered to pay tax liability due on vesting of Restricted Stock Units.
- F2Each 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.
- F3Restricted 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.
- F4Restricted Stock Unit Award granted on August 13, 2014 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 June 17, 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.