Pcp Managers Gp, Llc - Aug 9, 2021 Form 4 Insider Report for Performant Financial Corp (PFMT)

Role: 10%+ Owner
Signature: PCP Managers GP, LLC, by /s/ Jake Vaughey, as Attorney-in-Fact
Stock symbol: PFMT
Transactions as of: Aug 9, 2021
Transactions value $: -$2,328,345
Form type: 4
Date filed: 8/11/2021, 04:05 PM
Previous filing: Aug 9, 2021
Next filing: Aug 13, 2021

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	Sale	-$2.32M	-460K	-6.76%	$5.05	6.35M	Aug 9, 2021	See footnotes	F1, F2
transaction	PFMT	Common Stock, par value $0.0001 per share	Sale	-$4.99K	-997	-0.02%	$5.01	6.35M	Aug 10, 2021	See footnotes	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported shares are owned of record by Parthenon DCS Holdings, LLC ("DCS Holdings"). Parthenon Investors II, L.P., as the manager of DCS Holdings; PCap Partners II, LLC, as the general partner of Parthenon Investors II, L.P.; PCap II, LLC, as the managing member of PCap Partners II, LLC; PCP Managers, L.P., as the managing member of PCap II, LLC; and PCP Managers GP, LLC, as the general partner of PCP Managers, L.P. may be deemed to beneficially own the shares reported herein. The entities aforementioned, except for DCS Holdings, are referred to as the "Reporting Persons." Investment decisions, including voting and dispositive power, with respect to shares reported herein are made by the Managing Members of PCP Managers GP, LLC, who act by majority vote.
F2	Each of the Reporting Persons, as well as the Managing Members of PCP Managers GP, LLC, disclaims beneficial ownership of the shares reported herein, and this report shall not be deemed an admission that the Reporting persons or the Managing Members of PCP Managers GP, LLC are the beneficial owners of such shares for the purpose of Section 16 or for any other purpose, except, in each case, to the extent of each such Reporting Person's or Managing Member's pecuniary interest therein.

Content

The reported shares are owned of record by Parthenon DCS Holdings, LLC ("DCS Holdings"). Parthenon Investors II, L.P., as the manager of DCS Holdings; PCap Partners II, LLC, as the general partner of Parthenon Investors II, L.P.; PCap II, LLC, as the managing member of PCap Partners II, LLC; PCP Managers, L.P., as the managing member of PCap II, LLC; and PCP Managers GP, LLC, as the general partner of PCP Managers, L.P. may be deemed to beneficially own the shares reported herein. The entities aforementioned, except for DCS Holdings, are referred to as the "Reporting Persons." Investment decisions, including voting and dispositive power, with respect to shares reported herein are made by the Managing Members of PCP Managers GP, LLC, who act by majority vote.

Each of the Reporting Persons, as well as the Managing Members of PCP Managers GP, LLC, disclaims beneficial ownership of the shares reported herein, and this report shall not be deemed an admission that the Reporting persons or the Managing Members of PCP Managers GP, LLC are the beneficial owners of such shares for the purpose of Section 16 or for any other purpose, except, in each case, to the extent of each such Reporting Person's or Managing Member's pecuniary interest therein.