Frantz John R 4
4 · NEXTGEN HEALTHCARE, INC. · Filed Oct 28, 2020
Insider Transaction Report
Form 4
Frantz John R
CEO and President
Transactions
- Award
Common Stock
2020-10-27+111,429→ 566,359 total - Award
Performance Stock Units
2020-10-27+167,143→ 388,302 total→ Common Stock (167,143 underlying)
Footnotes (2)
- [F1]The shares of restricted stock vest over three years from the date of grant in annual increments (i.e., 1/3 vest on the first anniversary of the date of grant, 1/3 vest on the second anniversary of the date of grant, and 1/3 vest on the third anniversary of the date of grant), subject to continued service through each vesting date.
- [F2]The performance stock unit awards vest only in the event certain performance goals are achieved and there is continuous service through the date the goals are certified. Approximately 80% of the performance stock units are tied to the Company's fiscal year 2022 revenue goal and 20% are tied to the Company's fiscal year 2023 revenue goal. Performance stock unit awards funded for fiscal year 2022 and fiscal year 2023 revenue performance will be modified for cumulative 3-year total shareholder return ("TSR") on the three-year grant date anniversary, which is also the cliff vest date. The number of shares to be issued may vary between 8.5% and 199.5% of the number of target performance stock units depending on performance, and no such shares will be issued if threshold performance is not achieved.