ECMC Group, Inc. - Feb 16, 2022 Form 4 Insider Report for Performant Financial Corp (PFMT)

Role: 10%+ Owner
Signature: /s/ Martin Scanlon, Chief Financial Officer
Stock symbol: PFMT
Transactions as of: Feb 16, 2022
Transactions value $: $960,000
Form type: 4
Date filed: 2/18/2022, 03:17 PM
Previous filing: May 26, 2021
Next filing: Feb 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PFMT	Common Stock	Exercise of in-the-money or at-the-money derivative security	$960K	+1M	+67.32%	$0.96	2.49M	Feb 16, 2022	Direct

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	Common Stock Warrants (right to buy)	Exercise of in-the-money or at-the-money derivative security	$0	-1M	-25.88%	$0.00	2.86M	Feb 16, 2022	Common Stock	1M	$0.96	Direct	F1

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

Explanation of Responses:

Id	Content
F1	This warrant was first acquired from Performant Financial Corporation on August 11, 2017 and was subsequently amended on May 21, 2021 pursuant to that certain First Amendment to Warrant (the "Amendment"), by and among ECMC Group, Inc. and Performant Financial Corporation. The Amendment reduced the exercise price with respect to 1,931,663 shares of common stock underlying this warrant and extended this warrant's expiration date to August 11, 2023. No other terms of this warrant were modified by the Amendment, including the exercise price of the remainder shares of common stock underlying this warrant.

Content

This warrant was first acquired from Performant Financial Corporation on August 11, 2017 and was subsequently amended on May 21, 2021 pursuant to that certain First Amendment to Warrant (the "Amendment"), by and among ECMC Group, Inc. and Performant Financial Corporation. The Amendment reduced the exercise price with respect to 1,931,663 shares of common stock underlying this warrant and extended this warrant's expiration date to August 11, 2023. No other terms of this warrant were modified by the Amendment, including the exercise price of the remainder shares of common stock underlying this warrant.