4//SEC Filing
Benefitfocus,Inc. 4
Accession 0001209191-17-025047
CIK 0001576169operating
Filed
Apr 3, 8:00 PM ET
Accepted
Apr 4, 5:08 PM ET
Size
12.5 KB
Accession
0001209191-17-025047
Insider Transaction Report
Form 4
Jenkins Shawn A
DirectorPresident & CEO10% Owner
Transactions
- Award
Common Stock
2017-03-31+33,362→ 2,745,683 total - Award
Performance Restricted Stock Units
2017-03-31+11,120→ 11,120 totalExp: 2018-04-01→ Common Stock (11,120 underlying) - Award
Performance Restricted Stock Units
2017-03-31+50,043→ 50,043 totalExp: 2021-04-01→ Common Stock (50,043 underlying)
Holdings
- 40,000
Performance Restricted Stock Units
Exp: 2017-12-31→ Common Stock (40,000 underlying)
Footnotes (4)
- [F1]Represents restricted stock units which vest in four equal annual installments beginning on April 1, 2018, subject to continued employment.
- [F2]Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Issuer common stock. The maximum number of PRSUs is presented in the table. A percentage of the PRSUs will vest upon the achievement of annual revenue goals and free cash flow goals, all subject to a minimum adjusted EBITDA level, during the period of January 1, 2017 through December 31, 2017. Vesting of the target level PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the performance period worked. Vesting of the target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.
- [F3]Each PRSU represents a contingent right to receive one share of Issuer common stock. The maximum number of PRSUs is presented in the table. The PRSUs will vest upon the achievement of annual recurring revenue bookings percentage growth goals during the period of January 1, 2017 through December 31, 2017, such vesting to occur in four equal annual installments beginning on April 1, 2018, if the performance metrics are met. Vesting of the target level PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the performance period worked. Vesting of the target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.
- [F4]Each PRSU represents a contingent right to receive one share of Issuer common stock. The maximum number of PRSUs is presented in the table. PRSUs vest upon the achievement of adjusted EBITDA and compounded annual revenue growth rate goals during the period of January 1, 2015 through December 31, 2017. Vesting of the target level PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the performance period worked. Vesting of the target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.
Documents
Issuer
Benefitfocus,Inc.
CIK 0001576169
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001576169
Filing Metadata
- Form type
- 4
- Filed
- Apr 3, 8:00 PM ET
- Accepted
- Apr 4, 5:08 PM ET
- Size
- 12.5 KB