4//SEC Filing
Restivo James P 4
Accession 0001209191-20-027329
CIK 0001576169other
Filed
May 4, 8:00 PM ET
Accepted
May 5, 7:33 PM ET
Size
10.8 KB
Accession
0001209191-20-027329
Insider Transaction Report
Form 4
Restivo James P
Chief Technology Officer
Transactions
- Award
Performance Restricted Stock Units
2020-05-01+14,057→ 14,057 totalExp: 2021-05-01→ Common Stock (14,057 underlying) - Award
Common Stock
2020-05-01+28,115→ 103,727 total - Award
Performance Restricted Stock Units
2020-05-01+42,172→ 42,172 totalExp: 2023-05-01→ Common Stock (42,172 underlying)
Footnotes (3)
- [F1]Represents restricted stock units which vest in three equal annual installments beginning on May 1, 2021, subject to continued employment.
- [F2]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, 2020 through December 31, 2020. 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.
- [F3]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 software service revenue and adjusted EBITDA goals during the period of January 1, 2020 through December 31, 2020, such vesting to occur in three equal annual installments beginning on May 1, 2021, 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.
Documents
Issuer
Benefitfocus,Inc.
CIK 0001576169
Entity typeother
Related Parties
1- filerCIK 0001427813
Filing Metadata
- Form type
- 4
- Filed
- May 4, 8:00 PM ET
- Accepted
- May 5, 7:33 PM ET
- Size
- 10.8 KB