SEC Form 4 · accession 0001209191-16-137055
Benefitfocus,Inc. · BNFT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mason R Holland Jr.
Officer — Executive Chairman of the Bd. · Director
Period of report
Aug 11, 2016
Accepted (ET)
Aug 15, 2016 · 6:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001576169
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Aug 11, 2016 | S | 95,915 | $42.07 | D | 2,441,411 | I | By Holland Family Trust |
| Common StockF3,F2 | Aug 15, 2016 | S | 50,000 | $42.40 | D | 2,391,411 | I | By Holland Family Trust |
| Common Stock | holding | — | — | — | 22,537 | D | ||
| Common Stock | holding | — | — | — | 5 | I | As custodian for minor son |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted Stock UnitsF4 | — | holding | — | — | — | — | Dec 31, 2016 | Common Stock | 4,693 | 4,693 | D |
| Stock Option (Right to Buy)F5 | $7.09 | holding | — | — | — | — | Feb 20, 2017 | Common Stock | 257,688 | 257,688 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $42.00 to $42.37. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F2These shares are held in a living trust for the benefit of the reporting person and his spouse. The reporting person shares voting and investment control over these shares.
- F3This transaction was executed in multiple trades at prices ranging from $42.08 to $42.92. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F4Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Issuer common stock. A percentage of PRSUs will vest upon the achievement of annual revenue goals and non-GAAP net income (loss) goals during the period of January 1, 2016 through December 31, 2016. Vesting of the PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the performance period worked. Vesting of PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.
- F5This option is fully vested.