0001209191-21-025268.txt : 20210405 0001209191-21-025268.hdr.sgml : 20210405 20210405172407 ACCESSION NUMBER: 0001209191-21-025268 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210401 FILED AS OF DATE: 20210405 DATE AS OF CHANGE: 20210405 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Wegner Alpana CENTRAL INDEX KEY: 0001822516 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36061 FILM NUMBER: 21806695 MAIL ADDRESS: STREET 1: C/O BENEFITFOCUS, INC. STREET 2: 100 BENEFITFOCUS WAY CITY: CHARLESTON STATE: SC ZIP: 29492 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 2021-04-01 0 0001576169 Benefitfocus, Inc. BNFT 0001822516 Wegner Alpana 100 BENEFITFOCUS WAY CHARLESTON SC 29492 0 1 0 0 Chief Financial Officer Common Stock 2021-04-01 4 M 0 2202 0.00 A 53264 D Common Stock 2021-04-01 4 A 0 49817 0.00 A 103081 D Performance Restricted Stock Units 2021-04-01 4 M 0 2202 0.00 A 2021-05-01 Common Stock 2202 245 D Performance Restricted Stock Units 2021-04-01 4 D 0 245 0.00 D 2021-05-01 Common Stock 245 0 D Performance Restricted Stock Units 2021-04-01 4 A 0 9963 0.00 A 2022-04-01 Common Stock 9963 9963 D Performance Restricted Stock Units 2021-04-01 4 A 0 74725 0.00 A 2025-04-01 Common Stock 74725 74725 D Shares earned upon the vesting of a percentage of the performance restricted stock units ("PRSUs") granted to the Reporting Person on May 1, 2020. Each PRSU represented a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of an annual revenue goal and an adjusted EBITDA goal, during the period of January 1, 2020 through December 31, 2020. Represents restricted stock units which vest in four equal annual installments beginning on April 1, 2022, subject to continued employment. Represents the portion of PRSUs that were forfeited to the Issuer after determining the percentage of PRSUs that vested. 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, 2021 through December 31, 2021. 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. 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 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, such vesting to occur in four equal annual installments beginning on April 1, 2022, 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. /s/ S. Halle Vakani, Attorney-in-Fact 2021-04-05