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

Role: Chief Compliance Officer
Signature: /s/ Ian A. Johnston, Attorney-in-Fact for Harold T Leach, Jr
Issuer symbol: PHLT
Transactions as of: 18 May 2021
Net transactions value: -$16,004
Form type: 4
Filing time: 20 May 2021, 20:20:33 UTC
Next filing: 17 Aug 2021
SEC: View on sec.gov

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	+11,250	+2.4%	$0.000000	484,240	18 May 2021	Direct
transaction	PFMT	Common Stock, par value $0.0001 per share	Tax liability	$6,860	-3,251	-0.67%	$2.11	480,989	18 May 2021	Direct	F1
transaction	PFMT	Common Stock, par value $0.0001 per share	Options Exercise	$0	+15,000	+3.1%	$0.000000	495,989	18 May 2021	Direct
transaction	PFMT	Common Stock, par value $0.0001 per share	Tax liability	$9,145	-4,334	-0.87%	$2.11	491,655	18 May 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	-11,250	-50%	$0.000000	11,250	18 May 2021	Common Stock	11,250		Direct	F2, F3
transaction	PFMT	Restricted Stock Units	Options Exercise	$0	-15,000	-100%	$0.000000^*	0	18 May 2021	Common Stock	15,000		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.