Form 4: Performant Financial Corp Director Yanagi Reports Acquisition and Disposal of Shares
SEC Form 4 Filing
Director Eric Yanagi reports acquisition of restricted stock units and disposal of common stock, along with indirect ownership details.
Summary
- Eric Yanagi, a director of Performant Financial Corp, filed a Form 4 detailing changes in beneficial ownership.
- On July 30, 2024, Yanagi acquired 36,011 restricted stock units (RSUs) as compensation for serving on the board.
- These RSUs will vest on the earlier of the company's 2025 annual meeting or a change of control.
- Yanagi also reported the disposal of 346,219 shares of common stock.
- Additionally, Yanagi has indirect beneficial ownership of 3,261,675 shares held by Mill Road Capital II, L.P.
- Yanagi disclaims beneficial ownership of the shares except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Future Outlook
The RSUs will vest on the earlier of the issuer's 2025 annual meeting of stockholders or a change of control.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 07/30/2024 | Date of transaction: acquisition of RSUs and disposal of common stock. |
| 08/01/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.