Ian Johnston - 18 May 2021 Form 4 Insider Report for Performant Financial Corp (PFMT)

Role
Vice President and Chief Accounting Officer
Signature
/s/ Ian A. Johnston
Issuer symbol
PFMT
Transactions as of
18 May 2021
Net transactions value
-$19,577
Form type
4
Filing time
20 May 2021, 20:25:47 UTC
Next filing
17 Aug 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PFMT Common Stock, par value $0.0001 per share Options Exercise $0 +15,000 +11% $0.000000 152,389 18 May 2021 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $10,911 -5,171 -3.4% $2.11 147,218 18 May 2021 Direct F1
transaction PFMT Common Stock, par value $0.0001 per share Options Exercise $0 +11,875 +8.1% $0.000000 159,093 18 May 2021 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $8,666 -4,107 -2.6% $2.11 154,986 18 May 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PFMT Restricted Stock Units Options Exercise $0 -15,000 -100% $0.000000* 0 18 May 2021 Common Stock 15,000 Direct F2, F3
transaction PFMT Restricted Stock Units Options Exercise $0 -11,875 -50% $0.000000 11,875 18 May 2021 Common Stock 11,875 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares surrendered to pay tax liability due on vesting of Restricted Stock Units.
F2 Each 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.
F3 Restricted Stock Unit award was granted on April 6, 2017. 25% of the shares vested on May 11, 2018, 25% of the shares vested on May 10, 2019, 25% of the shares vested on May 13, 2020, and the final 25% of the shares vested on May 18, 2021.
F4 Restricted Stock Unit award was granted on March 29, 2018. 25% of the shares vested on May 10, 2019, 25% of the shares vested on May 18, 2020, 25% of the shares vested on May 18, 2021, with 25% more vesting on the first day of the next open trading window immediately following the fourth anniversary of the grant date, provided that the Reporting Person remains in continuous service through each vest date.

Remarks:

Vice President and Chief Accounting Officer