Harold Leach Jr - May 18, 2021 Form 4 Insider Report for Performant Financial Corp (PFMT)

Role: Chief Compliance Officer
Signature: /s/ Ian A. Johnston, Attorney-in-Fact for Harold T Leach, Jr
Stock symbol: PFMT
Transactions as of: May 18, 2021
Transactions value $: -$16,004
Form type: 4
Date filed: 5/20/2021, 08:20 PM
Next filing: Aug 17, 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	Options Exercise	$0	+11.3K	+2.38%	$0.00	484K	May 18, 2021	Direct
transaction	PFMT	Common Stock, par value $0.0001 per share	Tax liability	-$6.86K	-3.25K	-0.67%	$2.11	481K	May 18, 2021	Direct	F1
transaction	PFMT	Common Stock, par value $0.0001 per share	Options Exercise	$0	+15K	+3.12%	$0.00	496K	May 18, 2021	Direct
transaction	PFMT	Common Stock, par value $0.0001 per share	Tax liability	-$9.14K	-4.33K	-0.87%	$2.11	492K	May 18, 2021	Direct	F1

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	Restricted Stock Units	Options Exercise	$0	-11.3K	-50%	$0.00	11.3K	May 18, 2021	Common Stock	11.3K		Direct	F2, F3
transaction	PFMT	Restricted Stock Units	Options Exercise	$0	-15K	-100%	$0.00^*	0	May 18, 2021	Common Stock	15K		Direct	F2, F4

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

Explanation of Responses:

Id	Content
F1	Shares surrendered to pay tax liability due on vesting of Restricted Stock Units.
F2	Each restricted stock unit represents a contingent right to receive one share of PFMT's common stock. The units were awarded at no cost to Reporting Person.
F3	Restricted Stock Unit award was granted on May 1, 2018. 25% of the shares vested on May 10, 2019, 25% of the shares vested on May 18, 2020, 25% of the shares vested on May 18, 2021, with 25% more vesting on the first day of the next open trading window immediately following the fourth anniversary of May 1,2018, provided that the Reporting Person remains in continuous service through each vest date.
F4	Restricted Stock Unit award was granted on April 6, 2017. 25% of the shares vested on May 11, 2018, 25% of the shares vested on May 10, 2019, 25% of the shares vested on May 13, 2020, and the final 25% of the shares vested on May 18, 2021.