4//SEC Filing
Jenkins Shawn A 4
Accession 0001209191-17-059528
CIK 0001576169other
Filed
Nov 5, 7:00 PM ET
Accepted
Nov 6, 9:03 PM ET
Size
10.8 KB
Accession
0001209191-17-059528
Insider Transaction Report
Form 4
Jenkins Shawn A
DirectorPresident & CEO10% Owner
Transactions
- Purchase
Common Stock
2017-11-06$25.27/sh+37,000$934,990→ 2,782,683 total
Holdings
- 40,000
Performance Restricted Stock Units
Exp: 2017-12-31→ Common Stock (40,000 underlying) - 11,120
Performance Restricted Stock Units
Exp: 2018-04-01→ Common Stock (11,120 underlying) - 50,043
Performance Restricted Stock Units
Exp: 2021-04-01→ Common Stock (50,043 underlying)
Footnotes (4)
- [F1]This purchase was executed in multiple transactions at prices ranging from $25.15 to $25.40. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
- [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. 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.
- [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. 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.
- [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. 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.
Documents
Issuer
Benefitfocus,Inc.
CIK 0001576169
Entity typeother
Related Parties
1- filerCIK 0001586546
Filing Metadata
- Form type
- 4
- Filed
- Nov 5, 7:00 PM ET
- Accepted
- Nov 6, 9:03 PM ET
- Size
- 10.8 KB