SEC Form 4 · accession 0001209191-16-142043
Benefitfocus,Inc. · BNFT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey M Laborde
Officer — Chief Financial Officer
Period of report
Sep 15, 2016
Accepted (ET)
Sep 19, 2016 · 5:24 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 | Sep 15, 2016 | A | 4,025 | $0.00 | A | 4,025 | D | |
| Common StockF1 | Sep 15, 2016 | A | 49,183 | $0.00 | A | 53,208 | D |
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 UnitsF2 | — | Sep 15, 2016 | A | 9,836 | A | — | Dec 31, 2017 | Common Stock | 9,836 | 9,836 | D |
Explanation of responses
- F1Represents restricted stock units which vest in four equal annual installments beginning on August 7, 2017, subject to continued employment. Vesting will also accelerate in certain circumstances if there is a change in control of the Issuer.
- F2Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Issuer common stock. PRSUs vest upon the achievement of adjusted EBITDA and compounded annual revenue growth rate goals for the two year period ending December 31, 2017. 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 will also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.