Form 4: Performant Financial Corp CEO Simeon Kohl Reports Stock Transactions
SEC Form 4 Filing
CEO Simeon Kohl reports transactions involving Performant Financial Corp stock, including acquisitions and disposals related to restricted stock units.
Summary
- On May 13, 2024, Simeon Kohl, CEO of Performant Financial Corp, reported transactions involving the company's common stock.
- These transactions included the acquisition of 25,000 shares and 45,863 shares through the vesting of restricted stock units.
- Kohl also disposed of 6,710 shares and 11,168 shares to cover tax liabilities associated with the vesting of these units, at a price of $3.15 per share.
- Following these transactions, Kohl directly owns 378,082 shares of Performant Financial Corp.
- The reported transactions were executed pursuant to Rule 10b5-1(c).
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document primarily reports routine stock transactions related to executive compensation. There are no indications of significant positive or negative developments.
Positives
- The vesting of restricted stock units suggests that Kohl is meeting performance milestones.
Negatives
- The disposal of shares to cover tax liabilities, while common, slightly reduces Kohl's holdings.
Risks
- There are no specific risks highlighted in this document.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates standard compensation practices involving stock-based compensation.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align management's interests with those of shareholders.
- The vesting schedules described are typical for restricted stock unit awards.
- Selling shares to cover tax obligations upon vesting is a standard practice.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/10/2022 | Date of original Restricted Stock Unit award, vesting 25% annually on the first day of the next open trading window immediately following the first, second, third, and fourth anniversaries of March 10, 2022. |
| 05/05/2023 | Grant date of Restricted Stock Unit Award, vesting in four equal installments on the first day of the next open trading window immediately following the first, second, third and fourth anniversaries of the Grant Date. |
| 05/13/2024 | Date of reported stock transactions. |
| 05/15/2024 | Date of Power of Attorney execution. |
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