Simeon M. Kohl - 07 Sep 2023 Form 4 Insider Report for Performant Financial Corp (PHLT)

Role
Chief Executive Officer, Director
Signature
/s/ Ian A. Johnston, Attorney-in-Fact for Simeon M. Kohl
Issuer symbol
PHLT
Transactions as of
07 Sep 2023
Net transactions value
-$54,136
Form type
4
Filing time
11 Sep 2023, 19:25:13 UTC
Previous filing
18 May 2023
Next filing
15 May 2024
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 +30,458 +12% $0.000000 285,771 07 Sep 2023 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $17,875 -7,417 -2.6% $2.41 278,354 07 Sep 2023 Direct F1
transaction PFMT Common Stock, par value $0.0001 per share Options Exercise $0 +20,250 +7.3% $0.000000 298,604 07 Sep 2023 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $11,884 -4,931 -1.7% $2.41 293,673 07 Sep 2023 Direct F1
transaction PFMT Common Stock, par value $0.0001 per share Options Exercise $0 +41,539 +14% $0.000000 335,212 07 Sep 2023 Direct
transaction PFMT Common Stock, par value $0.0001 per share Tax liability $24,377 -10,115 -3% $2.41 325,097 07 Sep 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 $0 -30,458 -100% $0.000000* 0 07 Sep 2023 Common Stock 30,458 Direct F2, F3
transaction PFMT Restricted Stock Units Options Exercise $0 -20,250 -33% $0.000000 40,500 07 Sep 2023 Common Stock 20,250 Direct F2, F4
transaction PFMT Restricted Stock Units Options Exercise $0 -41,539 -25% $0.000000 124,614 07 Sep 2023 Common Stock 41,539 Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 July 30, 2020. The restricted stock unit award vested at a rate of 1/3 annually on the first, second, and third anniversaries of July 30, 2020, provided that the Reporting Person remained in continuous service through each vest date.
F4 Restricted Stock Unit award was granted on August 13, 2021. The restricted stock unit award vests at a rate of 25% annually on the first, second, third, and fourth anniversaries of August 14, 2021, provided that the Reporting Person remains in continuous service through each vest date.
F5 Restricted Stock Unit award was granted on August 8, 2022. The restricted stock unit award vests at a rate of 25% annually on the first, second, third, and fourth anniversaries of August 15, 2022, provided that the Reporting Person remains in continuous service through each vest date.