Chief Financial Officer Ramchandani Rohit converted options into 38,687 shares and covered exercise/tax liability with 13,805 shares, increasing direct ownership by 13% to 211,276 units (SEC Form 4)
$PFMT
Other Consumer Services
Consumer Discretionary
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
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Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | ||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Performant Financial Corp [ PFMT ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 08/13/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock, par value $0.0001 per share | 08/13/2024 | M | 23,162 | A | $0 | 209,556 | D | |||
| Common Stock, par value $0.0001 per share | 08/13/2024 | F | 8,265(1) | D | $3.65 | 201,291 | D | |||
| Common Stock, par value $0.0001 per share | 08/14/2024 | M | 15,525 | A | $0 | 216,816 | D | |||
| Common Stock, par value $0.0001 per share | 08/14/2024 | F | 5,540(1) | D | $3.53 | 211,276 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | $0(2) | 08/13/2024 | M | 23,162 | (3) | (3) | Common Stock | 23,162 | $0(2) | 46,324 | D | ||||
| Restricted Stock Units | $0(2) | 08/14/2024 | M | 15,525 | (4) | (4) | Common Stock | 15,525 | $0(2) | 15,525 | D | ||||
| Explanation of Responses: |
| 1. Shares surrendered to pay tax liability due on vesting of Restricted Stock Units |
| 2. Each restricted stock unit represents a contingent right to receive one share of PFMT's common stock. The units were awarded at no cost to Reporting Person. |
| 3. Restricted Stock Unit award was granted on August 8, 2022. The restricted stock unit award vests at a rate of 25% annually on the first day of the open trading window following the first, second, third, and fourth anniversaries of August 08, 2022, provided that the Reporting Person remains in continuous service through each vest date. |
| 4. The restricted stock unit award was granted on August 13, 2021, and vests at a rate of 25% annually, with 25% vesting on the first, second, third and fourth anniversary of August 14, 2021, provided that the Reporting Person remains in continuous service through each vest date. |
| Remarks: |
| /s/ Rohit Ramchandani | 08/15/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||