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

Reporting relationship: CEO, Director
Issuer ticker: N/A
Reported as of: 20 Jul 2022
Net transaction value: -$4,095,156
SEC form: 4
Accepted by SEC: 20 Jul 2022, 16:28:43 UTC
Prior SEC filing: 16 May 2022
Next SEC filing: 04 Nov 2022
Source filing: View source filing
Reporting owner signature: /s/ Megan Fine, by power of attorney

Key filing fact

Gary B. Moore filed Form 4 for CONCENTRIX SERVICESOURCE INC. on 20 Jul 2022.

Key facts

This page summarizes Gary B. Moore's Form 4 filing for CONCENTRIX SERVICESOURCE INC..
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 20 Jul 2022, 16:28.

Change

Previous filing in this sequence was filed on 16 May 2022.
Current net transaction value: -$4,095,156.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SREV transaction

Common Stock

Disposed to Issuer

Transaction value: $3,795,156
Shares: -2,530,104
Change %: -100%
Price: $1.50
Shares after: 0
Date: 20 Jul 2022
Ownership: Direct
Footnotes: F1, F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SREV transaction Derivative

Option

Disposed to Issuer

Transaction value: $300,000
Shares: -1,000,000
Change %: -100%
Price: $0.3000^*
Shares after: 0
Date: 20 Jul 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,000,000
Exercise price: $1.20
Footnotes: F4, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Gary B. Moore is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 5 footnotes

Footnote F1

This amount includes 974,613 restricted stock units of ServiceSource subject to time-based vesting (each an "RSU").

Footnote 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").

Footnote 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.

Footnote 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.

Footnote 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.