Chad William Lyne - Jul 20, 2022 Form 4 Insider Report for CONCENTRIX SERVICESOURCE INC. (SREV)

Role: CFO
Signature: /s/ Megan Fine, by power of attorney
Stock symbol: SREV
Transactions as of: Jul 20, 2022
Transactions value $: -$1,019,006
Form type: 4
Date filed: 7/20/2022, 04:22 PM
Previous filing: Mar 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SREV	Common Stock	Disposed to Issuer	-$932K	-621K	-100%	$1.50	0	Jul 20, 2022	Direct	F1, F2, 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	SREV	Option	Disposed to Issuer	-$87K	-150K	-100%	$0.58	0	Jul 20, 2022	Common Stock	150K	$0.92	Direct	F4, F5

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

Chad William Lyne is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	This amount includes 404,165 restricted stock units of ServiceSource subject to time-based vesting (each an "RSU").
F2	On July 20, 2022, pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated May 6, 2022, by and among ServiceSource International, Inc. ("ServiceSource"), Concentrix Corporation ("Parent"), and Concentrix Merger Sub Inc., a direct, wholly-owned subsidiary of Parent ("Acquisition Sub"), Acquisition Sub merged with and into ServiceSource, with ServiceSource surviving as a wholly-owned subsidiary of Parent (the "Merger"). Pursuant to the Merger Agreement, and by virtue of the Merger, each issued and outstanding share of ServiceSource common stock, par value $0.0001 per share, was converted into the right to receive $1.50 in cash, without interest (the "Merger Consideration").
F3	(Continued from Footnote 2) Pursuant to the Merger Agreement each RSU that was outstanding immediately prior to the effective time of the Merger by an individual who is not a continuing employee after the effective time of the Merger automatically vested (if unvested) and was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the total number of shares of ServiceSource common stock underlying such RSU multiplied by (ii) the Merger Consideration, plus any dividend equivalent amounts accrued with respect to such RSU.
F4	One-third of the shares subject to the option vested on September 1, 2020 and one twenty-fourth of the remaining shares subject to the option vest monthly thereafter.
F5	Pursuant to the Merger Agreement each outstanding option to purchase ServiceSource common stock (each a "Company Option") that was outstanding immediately prior to the effective time of the Merger automatically vested (if unvested) and was cancelled and, if the exercise price per share of the ServiceSource common stock was less than the Merger Consideration, was converted into the right to receive an amount in cash, without interest, equal to the product of (i) the excess, if any, of (A) the Merger Consideration over (B) the per-share exercise price for such Company Option multiplied by (ii) the total number of shares of ServiceSource common stock underlying such Company Option.