Ian Johnston - 29 May 2023 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
29 May 2023
Net transactions value
-$10,246
Form type
4
Filing time
31 May 2023, 20:16:56 UTC
Previous filing
16 Aug 2022
Next filing
18 Aug 2023
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 +11,250 +4.9% $0.000000 240,922 29 May 2023 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $10,246 -4,574 -1.9% $2.24 236,348 29 May 2023 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 -11,250 -100% $0.000000* 0 29 May 2023 Common Stock 11,250 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 May 2, 2019. The restricted stock unit award vested at a rate of 25% annually on the first and second anniversaries of April 29, 2019, the third 25% of the shares vested on May 13, 2022, and the final 25% vested on May 29, 2023.

Remarks:

Vice President and Chief Accounting Officer