Form 4: Performant Financial Corp CFO Rohit Ramchandani Reports Stock Transactions

Chief Financial Officer Rohit Ramchandani reports the vesting of restricted stock units and subsequent transactions involving Performant Financial Corp (PFMT) common stock.

Summary

• On May 13, 2024, Rohit Ramchandani, the CFO of Performant Financial Corp, reported transactions involving the company's common stock.
• 27,092 restricted stock units vested, which were initially granted on May 5, 2023.
• Following the vesting, 27,092 shares of common stock were acquired through the conversion of these restricted stock units.
• 10,574 shares were then surrendered to cover tax liabilities at a price of $3.15 per share.
• After these transactions, Ramchandani directly owns 186,394 shares of Performant Financial Corp.
• The restricted stock units vest 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 provided that the Reporting Person remains in continuous service through each vest date, and vesting in full upon a Change in Control (as defined in PFMT's 2012 Stock Incentive Plan (the Stock Plan).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity compensation.

Key Dates