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4//SEC Filing

Swad Stephen M 4

Accession 0001209191-22-023396

CIK 0001576169other

View on SEC.gov Company Profile

Filed

Apr 4, 8:00 PM ET

Accepted

Apr 5, 9:58 PM ET

Size

14.8 KB

Accession

0001209191-22-023396

Insider Transaction Report

Form 4

Period: 2022-04-01

Benefitfocus, Inc.BNFT

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

Common Stock
(indirect: By Trust)
170,879

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

4
doc4.xmlPrimary
FORM 4 SUBMISSION

Issuer

Benefitfocus, Inc.

CIK 0001576169

Entity typeother

Related Parties

1

filerCIK 0001397915

Filing Metadata

Form type: 4
Filed: Apr 4, 8:00 PM ET
Accepted: Apr 5, 9:58 PM ET
Size: 14.8 KB

View on SEC.gov