0001209191-22-023396.txt : 20220405
0001209191-22-023396.hdr.sgml : 20220405
20220405215800
ACCESSION NUMBER: 0001209191-22-023396
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220401
FILED AS OF DATE: 20220405
DATE AS OF CHANGE: 20220405
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Swad Stephen M
CENTRAL INDEX KEY: 0001397915
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36061
FILM NUMBER: 22809279
MAIL ADDRESS:
STREET 1: 1919 NORTH LYNN STREET
STREET 2: 7TH FLOOR
CITY: ARLINGTON
STATE: VA
ZIP: 22209
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Benefitfocus, Inc.
CENTRAL INDEX KEY: 0001576169
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372]
IRS NUMBER: 462346314
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 100 BENEFITFOCUS WAY
CITY: CHARLESTON
STATE: SC
ZIP: 29492
BUSINESS PHONE: 843-849-7476
MAIL ADDRESS:
STREET 1: 100 BENEFITFOCUS WAY
CITY: CHARLESTON
STATE: SC
ZIP: 29492
FORMER COMPANY:
FORMER CONFORMED NAME: Benefitfocus,Inc.
DATE OF NAME CHANGE: 20130507
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2022-04-01
0
0001576169
Benefitfocus, Inc.
BNFT
0001397915
Swad Stephen M
100 BENEFITFOCUS WAY
CHARLESTON
SC
29492
1
0
0
0
Common Stock
2022-04-01
4
M
0
12620
0.00
A
205555
D
Common Stock
2022-04-01
4
M
0
11130
0.00
A
216685
D
Common Stock
170879
I
By Stephen M. Swad Revocable Living Trust
Performance Restricted Stock Units
2022-04-01
4
M
0
12620
0.00
D
2022-04-01
Common Stock
12620
0
D
Performance Restricted Stock Units
2022-04-01
4
M
0
11130
0.00
D
2025-04-01
Common Stock
11130
23575
D
Performance Restricted Stock Units
2022-04-01
4
D
0
23575
0.00
D
2025-04-01
Common Stock
23575
0
D
Shares earned upon the vesting of a percentage of the performance restricted stock units ("PRSUs") granted to the Reporting Person on April 1, 2021. 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, 2021 through December 31, 2021.
Shares earned upon the vesting of a percentage of the PRSUs granted to the Reporting Person on April 1, 2021. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of of a Rule of 40 goal and an annual recurring revenue subscription bookings growth goal, during the period of January 1, 2021 through December 31, 2021. One-fourth of the shares are vested, with the remaining shares to vest in three equal annual installments beginning on April 1, 2023.
The reporting person and his wife are trustees and beneficiaries of the Stephen M. Swad Revocable Living Trust. The reporting person shares voting and investment control over these shares.
Represents the portion of PRSUs that were forfeited to the Issuer after determining the percentage of PRSUs that vested.
/s/ S. Halle Vakani, Attorney-in-Fact
2022-04-05