Michael J. Bonello - Jun 1, 2021 Form 4 Insider Report for PRA Health Sciences, Inc. (PRAH)

Role
EVP & CFO
Signature
By: /s/ Jessica Nielsen Causey, by power of attorney
Stock symbol
PRAH
Transactions as of
Jun 1, 2021
Transactions value $
-$372,263
Form type
4
Date filed
6/3/2021, 04:03 PM
Next filing
Jun 30, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRAH Common Stock Award $0 +4.82K +25.08% $0.00 24.1K Jun 1, 2021 Direct F1
transaction PRAH Common Stock Sale -$218K -1.28K -5.31% $170.45 22.8K Jun 1, 2021 Direct F2
transaction PRAH Common Stock Sale -$154K -906 -3.98% $170.45 21.9K Jun 1, 2021 Direct F3

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 PRAH Restricted Stock Unit Options Exercise $0 -2.82K -33.33% $0.00 5.65K Jun 1, 2021 Common Stock 2.82K Direct F4, F5
transaction PRAH Restricted Stock Unit Options Exercise $0 -2K -50% $0.00 2K Jun 1, 2021 Common Stock 2K Direct F5, F6
transaction PRAH Restricted Stock Unit Award $0 +14K $0.00 14K Jun 1, 2021 Common Stock 14K Direct F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting of two separate tranches of restricted stock units granted on June 1, 2020.
F2 Represents the number of shares required to be sold by the reporting person to satisfy tax withholding obligations related to the vesting of 2,823 restricted stock units from a June 1, 2020 grant of 8,470 restricted stock units which, upon vesting, convert into Issuer's common stock on a one-for-one basis under the PRA Health Sciences, Inc. 2020 Stock Incentive Plan. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
F3 Represents the number of shares required to be sold by the reporting person to satisfy tax withholding obligations related to the vesting of 2,000 restricted stock units from a June 1, 2020 grant of 4,000 restricted stock units which, upon vesting, convert into Issuer's common stock on a one-for-one basis under the PRA Health Sciences, Inc. 2020 Stock Incentive Plan. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
F4 Restricted stock units were granted on June 1, 2020 and convert into Issuer's common stock on a one-for one basis in an amount equal to one-third of the total amount per year on each anniversary of the grant date, subject to the holder's continued service through each vesting date.
F5 Not applicable.
F6 Restricted stock units were granted on June 1, 2020 and convert into Issuer's common stock on a one-for one basis in an amount equal to 50% of the total amount per year on each anniversary of the grant date, subject to the holder's continued service through each vesting date.
F7 Restricted stock units convert into the Issuer's common stock on a one-for-one basis in an amount equal to one-third of the total amount per year on each anniversary of the grant date, subject to the holder's continued service through each vesting date.