Gary B. Moore - Jul 20, 2022 Form 4 Insider Report for CONCENTRIX SERVICESOURCE INC. (SREV)

Signature
/s/ Megan Fine, by power of attorney
Stock symbol
SREV
Transactions as of
Jul 20, 2022
Transactions value $
-$4,095,156
Form type
4
Date filed
7/20/2022, 04:28 PM
Previous filing
May 16, 2022
Next filing
Nov 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SREV Common Stock Disposed to Issuer -$3.8M -2.53M -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 -$300K -1M -100% $0.30* 0 Jul 20, 2022 Common Stock 1M $1.20 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Gary B. Moore 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 974,613 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-half of the shares subject to the option vested on December 7, 2019 and one twenty-fourth of the shares vested 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.