SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Levin Matthew

(Last)

(First)

(Middle)

230 PARK AVENUE

(Street)

NEW YORK

10169

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/24/2023

3. Issuer Name and Ticker or Trading Symbol
Voya Financial, Inc. [ VOYA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	See Remarks

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	19,471⁽¹⁾⁽²⁾⁽³⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stock Units	⁽⁴⁾⁽⁵⁾	⁽⁴⁾⁽⁵⁾	Common Stock	98,894	⁽⁴⁾⁽⁵⁾	D

Explanation of Responses:

1. On January 24, 2023, pursuant to that certain Agreement and Plan of Merger ("Merger Agreement"), dated as of November 1, 2022, as amended and restated on December 19, 2022, by and among Voya Financial, Inc. (the "Issuer"), Benefitfocus, Inc. ("Benefitfocus") and Origami Squirrel Acquisition Corp, a wholly owned subsidiary of the Issuer ("Merger Sub"), Merger Sub was merged with and into Benefitfocus (the "Merger"), with Benefitfocus continuing as the surviving corporation in the Merger and a wholly owned subsidiary of the Issuer.

2. At the effective time of the Merger (the "Effective Time"), each outstanding restricted stock award (each a "Benefitfocus Restricted Share") was assumed by the Issuer and converted into a restricted stock award of the Issuer (each, a "Restricted Share") covering a number of shares of common stock, par value $0.001 per share, of the Issuer ("Common Stock") (rounded down to the nearest whole number) equal to the product of (i) the number of shares of common stock of Benefitfocus subject to such Benefitfocus Restricted Shares multiplied by (ii) the quotient, rounded to four decimal places, of (a) $10.50 divided by (b) the volume weighted average price of Common Stock for a ten day trading period, starting with the opening of trading on the eleventh trading day prior to the closing date, as reported by Bloomberg (such quotient, the "Equity Award Exchange Ratio").

3. Represents Restricted Shares received by the Reporting Person pursuant to the Merger. The Restricted Shares shall vest on July 24, 2023.

4. At the Effective Time, each outstanding restricted stock unit of Benefitfocus (each, a "Benefitfocus RSU") and each outstanding performance restricted stock unit of Benefitfocus (each, a "Benefitfocus PSU")) that were not Specified Awards (as defined in the Merger Agreement) was assumed by the Issuer and converted into a time-based restricted stock unit award of the Issuer (each, a "Restricted Stock Unit") covering a number of shares of Common Stock (rounded down to the nearest whole number) equal to the product of (i) the number of shares of common stock of Benefitfocus subject to such Benefitfocus RSUs or Benefitfocus PSUs (assuming achievement of target performance) immediately prior to the Effective Time multiplied by the Equity Award Exchange Ratio.

5. Represents Restricted Stock Units received by the Reporting Person pursuant to the Merger. The Restricted Stock Units convert to Common Stock on a 1 to 1 basis upon the vesting date.

Remarks:

President and CEO, Benefitfocus | Exhibit List: Exhibit 24 - Power of Attorney

	/s/ My Chi To, Attorney-in-Fact	02/03/2023
	** 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 5 (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.