Key facts
- This page summarizes Matthew Levin's Form 4 filing for Benefitfocus, Inc..
- 8 reported transactions and 5 derivative rows are listed below.
- Accepted by SEC: 25 Jan 2023, 18:08.
Matthew Levin - 24 Jan 2023 Form 4 Insider Report for Benefitfocus, Inc.
- Reporting relationship
- President and CEO, Director
- Issuer ticker
- N/A
- Reported as of
- 24 Jan 2023
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 25 Jan 2023, 18:08:59 UTC
- Prior SEC filing
- 22 Dec 2022
- Source filing
- View source filing
- Reporting owner signature
- /s/ S. Halle Vakani, Attorney-in-Fact
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Matthew Levin filed Form 4 for Benefitfocus, Inc. on 25 Jan 2023.
Change
- Previous filing in this sequence was filed on 22 Dec 2022.
- Current net transaction value: $0.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
BNFT
transaction
Common Stock
Options Exercise
- Transaction value
- $0
- Shares
- +12,360
- Change %
- +1.7%
- Price
- $0.000000
- Shares after
- 757,100
- Date
- 24 Jan 2023
- Ownership
- Direct
BNFT
transaction
Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -197,855
- Change %
- -26%
- Price
- Shares after
- 559,245
- Date
- 24 Jan 2023
- Ownership
- Direct
- Footnotes
- F1
BNFT
transaction
Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -559,245
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 24 Jan 2023
- Ownership
- Direct
- Footnotes
- F2
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
BNFT
transaction
Derivative
Performance Restricted Stock Units
Options Exercise
- Transaction value
- $0
- Shares
- -12,360
- Change %
- -50%
- Price
- $0.000000
- Shares after
- 12,512
- Date
- 24 Jan 2023
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 12,360
- Exercise price
- Footnotes
- F3
BNFT
transaction
Derivative
Performance Restricted Stock Units
Disposed to Issuer
- Transaction value
- $0
- Shares
- -12,512
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 24 Jan 2023
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 12,512
- Exercise price
- Footnotes
- F4
BNFT
transaction
Derivative
Performance Restricted Stock Units
Disposed to Issuer
- Transaction value
- $0
- Shares
- -88,532
- Change %
- -38%
- Price
- $0.000000
- Shares after
- 142,100
- Date
- 24 Jan 2023
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 88,532
- Exercise price
- Footnotes
- F2
BNFT
transaction
Derivative
Performance Restricted Stock Units
Disposed to Issuer
- Transaction value
- $0
- Shares
- -142,100
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 24 Jan 2023
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 142,100
- Exercise price
- Footnotes
- F4
BNFT
transaction
Derivative
Performance Restricted Stock Units
Disposed to Issuer
- Transaction value
- $0
- Shares
- -106,640
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 24 Jan 2023
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 106,640
- Exercise price
- Footnotes
- F2
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Matthew Levin is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 4 footnotes
Footnote F1
On January 24, 2023, pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated November 1, 2022, by and among the Issuer, Voya Financial, Inc. ("Voya") and Origami Squirrel Acquisition Corp. (the "Merger Sub"), as amended, the Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly-owned subsidiary of Voya. Pursuant to the Merger Agreement, at the effective time of the Merger each share of the Issuer's common stock was exchanged for the Per Share Common Stock Merger Consideration of $10.50, without interest.
Footnote F2
On January 24, 2023, the Merger took effect and these equity awards for the Issuer's common stock were exchanged for equity awards of Voya common stock in accordance with the Merger Agreement.
Footnote F3
Shares earned upon the vesting of a percentage of performance restricted stock units ("PRSUs") granted to the Reporting Person on April 1, 2022. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of a revenue goal, an adjusted EBITDA goal, and a software revenue retention goal, during the period of January 1, 2022 through December 31, 2022 (the "Performance Period").
Footnote F4
Represents the portion of PRSUs that were forfeited to the Issuer.