4//SEC Filing
August Raymond Alexander 4
Accession 0001209191-19-029692
CIK 0001576169other
Filed
May 13, 8:00 PM ET
Accepted
May 14, 4:58 PM ET
Size
9.1 KB
Accession
0001209191-19-029692
Insider Transaction Report
Form 4
August Raymond Alexander
Chief Operating Officer
Transactions
- Purchase
Common Stock
2019-05-13$31.15/sh+3,200$99,680→ 511,925 total
Holdings
- 5,605
Performance Restricted Stock Units
Exp: 2020-04-01→ Common Stock (5,605 underlying) - 74,733
Performance Restricted Stock Units
Exp: 2023-04-01→ Common Stock (74,733 underlying)
Footnotes (3)
- [F1]This transaction was executed in multiple trades at prices ranging from $31.05 to $31.16. 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 transaction 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. A percentage of the PRSUs will vest upon the achievement of an annual revenue goal and an adjusted EBITDA goal, during the period of January 1, 2019 through December 31, 2019. Vesting of the target level PRSUs will accelerate upon death or disability during the performance period 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 net annual recurring revenue bookings growth goals during the period of January 1, 2019 through December 31, 2019, such vesting to occur in four equal annual installments beginning on April 1, 2020, if the performance metrics are met. Vesting of the target level PRSUs will accelerate upon death or disability during the performance period in an amount equal to the proportion of days in the performance period worked. Vesting will also accelerate as to the next tranche of vesting units in the event of death or disability after the performance period. 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 0001616278
Filing Metadata
- Form type
- 4
- Filed
- May 13, 8:00 PM ET
- Accepted
- May 14, 4:58 PM ET
- Size
- 9.1 KB