4//SEC Filing
ECMC Group, Inc. 4
Accession 0001686266-19-000019
CIK 0001550695other
Filed
Dec 1, 7:00 PM ET
Accepted
Dec 2, 4:36 PM ET
Size
5.7 KB
Accession
0001686266-19-000019
Insider Transaction Report
Form 4
ECMC Group, Inc.
10% Owner
Transactions
- Other
Common Stock
2019-11-27$2.17/sh+185,406$403,073→ 1,185,406 total
Footnotes (1)
- [F1]On November 27, 2019, the reporting person became entitled to receive 185,406 shares of Performant Financial Corporation ("Performant") common stock pursuant to an "earn out" provision in the Agreement for Purchase of LLC Membership Interests (the "Purchase Agreement") dated August 9, 2018, pursuant to which Performant acquired all of the outstanding membership interests of Premiere Credit of North America, LLC, an ex-affiliate of the reporting person. The number of shares issuable pursuant to the earn out right was determined on November 27, 2019, pursuant to a formula set forth in the Purchase Agreement which provided that, for the purpose of determining the number of shares issuable, Performant's common stock would be valued at $2.174 per share, which was the market price of Performant on the date the Purchase Agreement was signed. The reporting person's right to receive additional shares became fixed and irrevocable on August 31, 2018, the effective date of the acquisition.
Documents
Issuer
Performant Financial Corp
CIK 0001550695
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001682002
Filing Metadata
- Form type
- 4
- Filed
- Dec 1, 7:00 PM ET
- Accepted
- Dec 2, 4:36 PM ET
- Size
- 5.7 KB