4//SEC Filing
Holland Mason R Jr 4
Accession 0001209191-20-027327
CIK 0001576169other
Filed
May 4, 8:00 PM ET
Accepted
May 5, 7:32 PM ET
Size
12.4 KB
Accession
0001209191-20-027327
Insider Transaction Report
Form 4
Holland Mason R Jr
DirectorExecutive Chairman of the Bd.10% Owner
Transactions
- Award
Performance Restricted Stock Units
2020-05-01+18,318→ 18,318 totalExp: 2023-05-01→ Common Stock (18,318 underlying) - Award
Performance Restricted Stock Units
2020-05-01+16,283→ 16,283 totalExp: 2021-05-01→ Common Stock (16,283 underlying) - Award
Common Stock
2020-05-01+12,212→ 72,881 total
Holdings
- 2,649,099(indirect: By Trust)
Common Stock
- 5(indirect: As custodian for minor son)
Common Stock
Footnotes (4)
- [F1]Represents restricted stock units which vest in three equal annual installments beginning on May 1, 2021, subject to continued employment.
- [F2]These shares are held in a living trust for the benefit of the Reporting Person and his spouse. The Reporting Person shares voting and investment control over these shares.
- [F3]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, 2020 through December 31, 2020. 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.
- [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 software service revenue and adjusted EBITDA goals during the period of January 1, 2020 through December 31, 2020, such vesting to occur in three equal annual installments beginning on May 1, 2021, 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 0001586540
Filing Metadata
- Form type
- 4
- Filed
- May 4, 8:00 PM ET
- Accepted
- May 5, 7:32 PM ET
- Size
- 12.4 KB