Filing Details

Accession Number:
0001209191-16-145088
Form Type:
4
Zero Holdings:
No
Publication Time:
2016-10-05 17:43:08
Reporting Period:
2016-10-03
Filing Date:
2016-10-05
Accepted Time:
2016-10-05 17:43:08
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1576169 BenefitfocusInc. BNFT Services-Prepackaged Software (7372) 462346314
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1616278 Alexander Raymond August 100 Benefitfocus Way
Charleston SC 29492
President And Coo No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2016-10-03 16,408 $39.66 198,102 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Performance Restricted Stock Units $0.00 2016-12-31 7,671 7,671 Direct
Common Stock Performance Restricted Stock Units $0.00 2017-12-31 40,000 40,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2016-12-31 7,671 7,671 Direct
2017-12-31 40,000 40,000 Direct
Footnotes
  1. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 31, 2016 to satisfy the reporting person's tax withholding obligation upon scheduled vesting of restricted stock units granted on October 1, 2014.
  2. This transaction was executed in multiple trades at prices ranging from $39.23 to $39.98. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction were effected.
  3. Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Issuer common stock. A percentage of PRSUs will vest upon the achievement of annual revenue goals and non-GAAP net income (loss) goals during the period of January 1, 2016 through December 31, 2016. Vesting of the PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the performance period worked. Vesting of PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.
  4. Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Issuer common stock. PRSUs vest upon the achievement of adjusted EBITDA and compounded annual revenue growth rate goals during the period of January 1, 2015 through December 31, 2017. Vesting of the target level PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the performance period worked. Vesting of target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.