Insider Activity: Simeon Kohl Converts RSUs, Surrenders Shares for Taxes
Rhea-AI Filing Summary
Simeon M. Kohl, identified as a Director and Chief Executive Officer of Performant Healthcare, Inc. (PHLT), reported equity activity dated 08/11/2025. Two restricted stock unit (RSU) awards converted into common shares: 41,538 and 39,476 units were recorded as acquired, and portions of those vested shares—16,221 and 15,416—were surrendered to satisfy tax withholding obligations at a price of $7.63 per share. After these transactions the reporting person beneficially owned 519,304 shares of PHLT common stock.
The filing discloses that the RSUs were awarded at no cost and were granted on August 8, 2022 and August 5, 2024. Each award vests in four equal installments on the anniversaries of the grant date subject to continued service and potential acceleration under the reporting person’s change-in-control and severance agreement.
Positive
- Restricted Stock Units were awarded at no cost, as stated in the filing
- Reporting person retains substantial ownership: 519,304 shares beneficially owned after transactions
Negative
- 16,221 and 15,416 shares were surrendered to cover tax withholding on vesting, reducing net share additions
- Tax withholding executed at $7.63 per share, indicating the per-share price used for surrender
Insights
TL;DR: Routine executive RSU vesting and tax-withholding surrender; no unusual disposals or new outside transfers reported.
The Form 4 shows two RSU awards converting into shares and the automated surrender of portions of vested shares to cover tax liabilities at $7.63 per share. The RSUs were granted at no cost and follow multi-year vesting schedules (grant dates 08/08/2022 and 08/05/2024) with typical service conditions and change-in-control acceleration. The reporting person remains a substantial holder with 519,304 shares beneficially owned after the transactions. This filing reflects standard compensation mechanics rather than a discretionary sale.
TL;DR: Insider equity increases via RSU settlement; tax-related share surrender reduced net addition.
The transactions dated 08/11/2025 include conversion of RSUs into common stock (41,538 and 39,476 units) and the surrender of 16,221 and 15,416 shares to satisfy tax withholding at $7.63 per share. The result is a reported beneficial ownership of 519,304 shares. All transfers disclosed are tied to compensation vesting provisions; no open-market sales or purchases are shown in this filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 41,538 | $0.00 | -- |
| Exercise | Restricted Stock Units | 39,476 | $0.00 | -- |
| Exercise | Common Stock, par value $0.0001 per share | 41,538 | $0.00 | -- |
| Tax Withholding | Common Stock, par value $0.0001 per share | 16,221 | $7.63 | $124K |
| Exercise | Common Stock, par value $0.0001 per share | 39,476 | $0.00 | -- |
| Tax Withholding | Common Stock, par value $0.0001 per share | 15,416 | $7.63 | $118K |
Footnotes (1)
- Shares surrendered to pay tax liability due on vesting of Restricted Stock Units Each restricted stock unit represents a contingent right to receive one share of PHLT's common stock. The units were awarded at no cost to the Reporting Person. Restricted Stock Unit award was granted on August 8, 2022 (the "Grant Date"). The Restricted Stock Units will 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, subject to vesting acceleration pursuant to the terms of the Reporting Person's Change in Control and Severance Agreement. Restricted Stock Unit Award was granted on August 5, 2024 (the "Grant Date"). The Restricted Stock Units will 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, subject to vesting acceleration pursuant to the terms of the Reporting Person's Change in Control and Severance Agreement.
