Rohit Ramchandani - 16 May 2023 Form 4 Insider Report for Performant Financial Corp (PHLT)

Role
Chief Financial Officer
Signature
/s/ Ian A. Johnston, Attorney-in-Fact for Rohit Ramchandani
Issuer symbol
PHLT
Transactions as of
16 May 2023
Net transactions value
-$28,207
Form type
4
Filing time
18 May 2023, 21:47:00 UTC
Previous filing
09 May 2023
Next filing
11 Sep 2023
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 +7,625 +5.9% $0.000000 135,806 16 May 2023 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $7,806 -3,110 -2.3% $2.51 132,696 16 May 2023 Direct F1
transaction PFMT Common Stock, par value $0.0001 per share Options Exercise $0 +19,999 +15% $0.000000 152,695 16 May 2023 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $20,401 -8,128 -5.3% $2.51 144,567 16 May 2023 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 -7,625 -100% 0 16 May 2023 Common Stock 7,625 $0.000000 Direct F2, F3
transaction PFMT Restricted Stock Units Options Exercise -19,999 -100% 0 16 May 2023 Common Stock 19,999 $0.000000 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 the Reporting Person.
F3 Restricted Stock Unit award was granted on May 2, 2019. The restricted stock unit award vested at a rate of 25% annually on the first and second anniversaries of April 29, 2019, with the third 25% of the shares vesting on May 13, 2022, and the final 25% vesting on May 16, 2023
F4 The restricted stock unit award was granted on 07/30/2020, and vested at a rate of one-third annually with the final third vesting on May 16, 2023.