4//SEC Filing
PRGX GLOBAL, INC. 4
Accession 0001209191-15-030826
CIK 0001007330operating
Filed
Mar 31, 8:00 PM ET
Accepted
Apr 1, 5:36 PM ET
Size
7.8 KB
Accession
0001209191-15-030826
Insider Transaction Report
Form 4
Pamnani Puneet
See Remarks
Transactions
- Award
Performance-Based Restricted Stock Unit
2015-03-30+140,000→ 140,000 total→ Common Stock (140,000 underlying)
Footnotes (3)
- [F1]Each Performance-Based Restricted Stock Unit ("Unit") corresponds to a share of the common stock of the Company. If vested, 50% of the vested Units will be paid in whole shares of common stock and the remaining Units will be paid in cash in an amount equal to the remaining vested Units. The Units vest and become payable based on the cumulative adjusted EBITDA that the Company (excluding the Healthcare Claims Recovery Audit business) achieves for the two-year performance period ending December 31, 2016. The Units will become payable, if at all, no later than 15 days after the Company's Compensation Committee determines the performance criteria achieved for the performance period (which determination cannot, in any event, be earlier than January 2017 or after April 2017).
- [F2]At the threshold performance level, 35% of the Units will become vested and payable; at the target performance level, 100% of the Units will become vested and payable; and at the maximum performance level, 200% of the Units will become vested and payable. If performance falls between the stated performance levels the percentage of Units that shall become vested and payable will be based on a straight line interpolation between such stated performance levels (although the Units may not become vested and payable for more than 200% of the Units and no Units shall become vested and payable if performance does not equal or exceed the threshold performance level).
- [F3]The target performance level is consistent with the Company's long term growth plan and aligned with financial performance expected to result in meaningful enterprise value creation. Achievement of the adjusted EBITDA performance levels required for vesting of any of the Units will require substantial improvement over the Company's comparable adjusted EBITDA performance in 2014.
Documents
Issuer
PRGX GLOBAL, INC.
CIK 0001007330
Entity typeoperating
IncorporatedGA
Related Parties
1- filerCIK 0001007330
Filing Metadata
- Form type
- 4
- Filed
- Mar 31, 8:00 PM ET
- Accepted
- Apr 1, 5:36 PM ET
- Size
- 7.8 KB