SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Vestar Capital Partners V L P (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Press Ganey Holdings, Inc. [ PGND ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 01/11/2016
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/11/2016		J(1)		324,599	D	(1)	30,344,467	I	See Footnotes(2)(3)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Vestar Capital Partners V L P (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vestar Capital Partners V A L P (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vestar Capital Partners V-B LP (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vestar Executives V LP (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vestar Co-Invest V, L.P. (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vestar Investors V, L.P. (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Vestar/PGA Investors, LLC (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* VESTAR ASSOCIATES V, L.P. (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* VESTAR MANAGERS V LTD. (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* OCONNELL DANIEL S (Last) (First) (Middle) C/O VESTAR CAPITAL PARTNERS, 245 PARK AVENUE, 41ST FLOOR (Street) NEW YORK NY 10167 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Represents a distribution in-kind from Vestar/PGA Investors, LLC to its manager and members for no consideration.

2. Includes shares of common stock held directly by Vestar Capital Partners V, L.P. ("Vestar V"), Vestar Capital Partners V-A, L.P. ("Vestar V-A"), Vestar Capital Partners V-B, L.P. ("Vestar V-B"), Vestar Executives V, L.P. ("Executives V"), Vestar Co-Invest V, L.P. ("Co-Invest V") and Vestar Investors V, L.P. ("Investors V" and collectively with Vestar V, Vestar V- A, Vestar V-B, Executives V and Co-Invest V, the "Vestar Investors"). Following the transactions reported herein, Vestar/PGA Investors, LLC ceased to hold any shares of common stock of the Issuer and is no longer subject to Section 16.

3. Vestar V is the managing member of Vestar/PGA Investors, LLC and had voting and investment power over the securities formerly held or controlled by Vestar/PGA Investors, LLC. Vestar Associates V, L.P. ("Vestar Associates V") is the general partner of Vestar V, Vestar V-A, Vestar V-B and Executives V and has voting and investment power over the securities held or controlled by each of them. Vestar Managers V Ltd. ("VMV") is the general partner of Co-Invest V and Investors V and has voting and investment power over the securities held or controlled by each of them.

4. VMV is also the general partner of Vestar Associates V. Daniel S. O'Connell is the sole director of VMV and as a result he may be deemed to share beneficial ownership of the securities held directly by the Vestar Investors. Each of Vestar V, Vestar Associates V, VMV and Mr. O'Connell disclaims beneficial ownership of any securities held directly by the Vestar Investors, except to the extent of his or its pecuniary interest therein.

	Vestar Capital Partners V, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Capital Partners V-A, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Capital Partners V-B, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Executives V, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Co-Invest V, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Investors V, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar/PGA Investors, LLC, by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Associates V, L.P., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Vestar Managers V Ltd., by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	Daniel S. O'Connell, by /s/ Steven Della Rocca, Attorney-in-fact	01/13/2016
	** 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 4 (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).
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