0001550695-22-000037.txt : 20220517
0001550695-22-000037.hdr.sgml : 20220517
20220517194415
ACCESSION NUMBER: 0001550695-22-000037
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220513
FILED AS OF DATE: 20220517
DATE AS OF CHANGE: 20220517
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Johnston Ian
CENTRAL INDEX KEY: 0001703802
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35628
FILM NUMBER: 22936583
MAIL ADDRESS:
STREET 1: 333 NORTH CANYONS PARKWAY
CITY: LIVERMORE
STATE: CA
ZIP: 94551
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Performant Financial Corp
CENTRAL INDEX KEY: 0001550695
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
IRS NUMBER: 200484934
STATE OF INCORPORATION: DE
BUSINESS ADDRESS:
STREET 1: 333 NORTH CANYONS PARKWAY
CITY: Livermore
STATE: CA
ZIP: 94551
BUSINESS PHONE: 925-960-4800
MAIL ADDRESS:
STREET 1: 333 NORTH CANYONS PARKWAY
CITY: Livermore
STATE: CA
ZIP: 94551
4
1
wf-form4_165283103819580.xml
FORM 4
X0306
4
2022-05-13
0
0001550695
Performant Financial Corp
PFMT
0001703802
Johnston Ian
333 NORTH CANYONS PARKWAY
LIVERMORE
CA
94551
0
1
0
0
See Remarks
Common Stock, par value $0.0001 per share
2022-05-13
4
M
0
11875
0
A
187308
D
Common Stock, par value $0.0001 per share
2022-05-17
4
F
0
4811
2.22
D
182497
D
Common Stock, par value $0.0001 per share
2022-05-13
4
M
0
11250
0
A
193747
D
Common Stock, par value $0.0001 per share
2022-05-17
4
F
0
4099
2.22
D
189648
D
Common Stock, par value $0.0001 per share
2022-05-13
4
M
0
19950
0
A
209598
D
Common Stock, par value $0.0001 per share
2022-05-17
4
F
0
7408
2.22
D
202190
D
Restricted Stock Units
2022-05-13
4
M
0
11875
0
D
Common Stock
11875.0
0
D
Restricted Stock Units
2022-05-13
4
M
0
11250
0
D
Common Stock
11250.0
11250
D
Restricted Stock Units
2022-05-13
4
M
0
19950
0
D
Common Stock
19950.0
10050
D
These shares of common stock were sold to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of Restricted Stock Units. These shares of common stock were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 7, 2021.
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.
Restricted Stock Unit award was granted on March 29, 2018. 25% of the shares vested on May 10, 2019, 25% of the shares vested on May 18, 2020, 25% of the shares vested on May 18, 2021, with the final 25% of the shares vesting on May 13, 2022, the first day of the current open trading window immediately following the fourth anniversary of the grant date.
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, the first day of the current open trading window immediately following the anniversary of the grant date, and the final 25% vesting on the first day of the open trading window immediately following the fourth anniversary of the grant date provided that the Reporting Person remains in continuous service through the final vest date.
Restricted Stock Unit award was granted on May 2, 2019. These Restricted Stock Units vest over a nearly four year period from the grant date based upon continuing service and the trading price of PFMT's Common Stock during the relevant vesting period. Specifically, the number of Restricted Stock Units reported is due to the achievement of the trading price for PFMT's shares being sustained for 60 consecutive trading days at or above $3.75 per share during the preceding year, which triggered the vesting of 66.5% of the original Restricted Stock Unit award on May 13, 2022, the first day of the current open trading window immediately following the third anniversary of the grant date.
Vice President and Chief Accounting Officer
/s/ Ian A. Johnston
2022-05-17