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