0001209191-22-023396.txt : 20220405 0001209191-22-023396.hdr.sgml : 20220405 20220405215800 ACCESSION NUMBER: 0001209191-22-023396 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220401 FILED AS OF DATE: 20220405 DATE AS OF CHANGE: 20220405 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Swad Stephen M CENTRAL INDEX KEY: 0001397915 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36061 FILM NUMBER: 22809279 MAIL ADDRESS: STREET 1: 1919 NORTH LYNN STREET STREET 2: 7TH FLOOR CITY: ARLINGTON STATE: VA ZIP: 22209 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Benefitfocus, Inc. CENTRAL INDEX KEY: 0001576169 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 462346314 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 100 BENEFITFOCUS WAY CITY: CHARLESTON STATE: SC ZIP: 29492 BUSINESS PHONE: 843-849-7476 MAIL ADDRESS: STREET 1: 100 BENEFITFOCUS WAY CITY: CHARLESTON STATE: SC ZIP: 29492 FORMER COMPANY: FORMER CONFORMED NAME: Benefitfocus,Inc. DATE OF NAME CHANGE: 20130507 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2022-04-01 0 0001576169 Benefitfocus, Inc. BNFT 0001397915 Swad Stephen M 100 BENEFITFOCUS WAY CHARLESTON SC 29492 1 0 0 0 Common Stock 2022-04-01 4 M 0 12620 0.00 A 205555 D Common Stock 2022-04-01 4 M 0 11130 0.00 A 216685 D Common Stock 170879 I By Stephen M. Swad Revocable Living Trust Performance Restricted Stock Units 2022-04-01 4 M 0 12620 0.00 D 2022-04-01 Common Stock 12620 0 D Performance Restricted Stock Units 2022-04-01 4 M 0 11130 0.00 D 2025-04-01 Common Stock 11130 23575 D Performance Restricted Stock Units 2022-04-01 4 D 0 23575 0.00 D 2025-04-01 Common Stock 23575 0 D Shares earned upon the vesting of a percentage of the performance restricted stock units ("PRSUs") granted to the Reporting Person on April 1, 2021. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of a revenue goal, an adjusted EBITDA goal, and a software revenue retention goal, during the period of January 1, 2021 through December 31, 2021. Shares earned upon the vesting of a percentage of the PRSUs granted to the Reporting Person on April 1, 2021. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of of a Rule of 40 goal and an annual recurring revenue subscription bookings growth goal, during the period of January 1, 2021 through December 31, 2021. One-fourth of the shares are vested, with the remaining shares to vest in three equal annual installments beginning on April 1, 2023. The reporting person and his wife are trustees and beneficiaries of the Stephen M. Swad Revocable Living Trust. The reporting person shares voting and investment control over these shares. Represents the portion of PRSUs that were forfeited to the Issuer after determining the percentage of PRSUs that vested. /s/ S. Halle Vakani, Attorney-in-Fact 2022-04-05