Filing Details

Accession Number:
0001209191-22-027199
Form Type:
4
Zero Holdings:
No
Publication Time:
2022-05-04 17:49:54
Reporting Period:
2022-05-02
Accepted Time:
2022-05-04 17:49:54
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1576169 Benefitfocus Inc. BNFT Services-Prepackaged Software (7372) 462346314
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1822516 Alpana Wegner 100 Benefitfocus Way
Charleston SC 29492
Chief Financial Officer 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 2022-05-02 773 $10.76 228,795 No 4 S Direct
Common Stock Disposition 2022-05-03 418 $10.62 228,377 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
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 2023-04-01 12,718 12,718 Direct
Common Stock Performance Restricted Stock Units $0.00 2026-04-01 95,389 95,389 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2023-04-01 12,718 12,718 Direct
2026-04-01 95,389 95,389 Direct
Footnotes
  1. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 5, 2021 to satisfy the Reporting Person's tax withholding obligation upon scheduled vesting of restricted stock units and PRSUs granted on May 1, 2020.
  2. This transaction was executed in multiple trades at prices ranging from $10.49 to $10.86. 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 transactions were effected.
  3. This transaction was executed in multiple trades at prices ranging from $10.41 to $10.86. 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 transactions were effected.
  4. Each 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 a revenue goal, an adjusted EBITDA goal, and a software revenue retention goal, during the period of January 1, 2022 through December 31, 2022. 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.
  5. 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 an annual recurring revenue subscription bookings growth goal and adjusted EBITDA goal, during the period of January 1, 2022 through December 31, 2022, such vesting to occur in four equal annual installments beginning on April 1, 2023, if the performance metrics are met. Vesting of 25% of 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.