Swad Stephen M 4

4 · Benefitfocus, Inc. · Filed Apr 5, 2022

Form 4

Period: 2022-04-01

Director

Transactions

Exercise/Conversion
Performance Restricted Stock Units
2022-04-01−11,130→ 23,575 total
Exp: 2025-04-01→ Common Stock (11,130 underlying)
Exercise/Conversion
Common Stock
2022-04-01+11,130→ 216,685 total
Exercise/Conversion
Performance Restricted Stock Units
2022-04-01−12,620→ 0 total
Exp: 2022-04-01→ Common Stock (12,620 underlying)
Disposition to Issuer
Performance Restricted Stock Units
2022-04-01−23,575→ 0 total
Exp: 2025-04-01→ Common Stock (23,575 underlying)
Exercise/Conversion
Common Stock
2022-04-01+12,620→ 205,555 total

Holdings

Footnotes (4)

[F1]Shares earned upon the vesting of a percentage of the performance restricted stock units ("PRSUs") granted to the Reporting Person on April 1, 2021. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of a revenue goal, an adjusted EBITDA goal, and a software revenue retention goal, during the period of January 1, 2021 through December 31, 2021.
[F2]Shares earned upon the vesting of a percentage of the PRSUs granted to the Reporting Person on April 1, 2021. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of of a Rule of 40 goal and an annual recurring revenue subscription bookings growth goal, during the period of January 1, 2021 through December 31, 2021. One-fourth of the shares are vested, with the remaining shares to vest in three equal annual installments beginning on April 1, 2023.
[F3]The reporting person and his wife are trustees and beneficiaries of the Stephen M. Swad Revocable Living Trust. The reporting person shares voting and investment control over these shares.
[F4]Represents the portion of PRSUs that were forfeited to the Issuer after determining the percentage of PRSUs that vested.

Documents

1 file