Filing Details

Accession Number:
0001209191-19-029692
Form Type:
4
Zero Holdings:
No
Publication Time:
2019-05-14 16:58:13
Reporting Period:
2019-05-13
Accepted Time:
2019-05-14 16:58:13
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 Ceo Yes 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 Acquisiton 2019-05-13 3,200 $31.15 511,925 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P 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 2020-04-01 5,605 5,605 Direct
Common Stock Performance Restricted Stock Units $0.00 2023-04-01 74,733 74,733 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2020-04-01 5,605 5,605 Direct
2023-04-01 74,733 74,733 Direct
Footnotes
  1. This transaction was executed in multiple trades at prices ranging from $31.05 to $31.16. 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.
  2. Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Issuer common stock. The maximum number of PRSUs is presented in the table. A percentage of the PRSUs will vest upon the achievement of an annual revenue goal and an adjusted EBITDA goal, during the period of January 1, 2019 through December 31, 2019. Vesting of the target level PRSUs will accelerate upon death or disability during the performance period in an amount equal to the proportion of days in the performance period worked. Vesting of the target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.
  3. Each PRSU represents a contingent right to receive one share of Issuer common stock. The maximum number of PRSUs is presented in the table. The PRSUs will vest upon the achievement of net annual recurring revenue bookings growth goals during the period of January 1, 2019 through December 31, 2019, such vesting to occur in four equal annual installments beginning on April 1, 2020, if the performance metrics are met. Vesting of the target level PRSUs will accelerate upon death or disability during the performance period in an amount equal to the proportion of days in the performance period worked. Vesting will also accelerate as to the next tranche of vesting units in the event of death or disability after the performance period. Vesting of the target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the performance period.