Indaba Capital Fund, L.P. - Apr 4, 2022 Form 3 Insider Report for Benefitfocus, Inc. (BNFT)

Role
Director
Signature
Indaba Capital Fund, L.P.; By: Indaba Partners, LLC, its general partner; By: /s/ Derek C. Schrier, Senior Managing Member
Stock symbol
BNFT
Transactions as of
Apr 4, 2022
Transactions value $
$0
Form type
3
Date filed
4/5/2022, 07:12 PM
Next filing
Sep 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
holding BNFT Common Stock 3.96M Apr 4, 2022 Direct F1

Explanation of Responses:

Id Content
F1 Securities held directly by Indaba Capital Fund, L.P. (the "Fund"). Pursuant to an Investment Management Agreement, the Fund and its general partner have delegated all voting and investment power over the securities directly held by the Fund to Indaba Capital Management, L.P. (the "Investment Manager"). As a result, each of the Investment Manager, IC GP, LLC ("IC GP"), as the general partner of the Investment Manager, and Derek C. Schrier, as Managing Member of IC GP, may be deemed to exercise voting and investment power over such securities. Each of the Investment Manager, IC GP and Mr. Schrier disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The securities reported herein have been previously reported by the Investment Manager, IC GP and Mr. Schrier in their own Section 16 reports. In the future, the Fund may jointly file Section 16 reports with the Investment Manager, IC GP and Mr. Schrier.

Remarks:

Alexander Lerner, an Investment Partner at Indaba Capital Management, L.P., is a director of Benefitfocus, Inc. (the "Issuer"). For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, Indaba Capital Fund, L.P. is deemed a director by deputization by virtue of its representation on the Board of Directors of the Issuer.