Performant Healthcare CFO Reports 15,525 RSUs Vesting, Tax Surrender of 7,729 Shares
Rhea-AI Filing Summary
Rohit Ramchandani, Chief Financial Officer of Performant Healthcare, Inc. (PHLT), reported equity changes on Form 4. On 08/14/2025 Mr. Ramchandani had 15,525 restricted stock units vest, converting to 15,525 common shares awarded at no cost, and simultaneously surrendered 7,729 shares to cover tax withholding at a price of $7.61 per share. Following these transactions his beneficial ownership of PHLT common stock is reported as 271,892 shares, down from 279,621 prior to the tax-surrender transaction.
Positive
- 15,525 restricted stock units vested and converted into 15,525 common shares at no cost to the reporting person, reflecting compensation realization
- Form 4 discloses tax-surrender details, showing transparency about the 7,729 shares surrendered to satisfy tax withholding at $7.61 per share
Negative
- Reported beneficial ownership decreased to 271,892 shares following the tax-surrender transaction from 279,621 shares prior to the surrender
Insights
TL;DR: Insider vested RSUs and used a share-surrender to satisfy taxes, modest net increase in held shares but reported beneficial ownership declined due to surrender.
The filing documents routine equity compensation activity rather than open-market trading. Fifteen thousand five hundred twenty-five restricted stock units vested and converted into the same number of common shares with no purchase price, consistent with standard employee equity compensation. Seven thousand seven hundred twenty-nine shares were surrendered to satisfy tax withholding obligations at $7.61 per share. Net change reduced reported beneficial ownership from 279,621 to 271,892 shares. This is a standard administrative transaction with limited market impact unless aggregated with other insider sales.
TL;DR: This is a routine Form 4 disclosing RSU vesting and tax withholding; it signals compensation realization, not a discretionary sale.
The report indicates the RSU award was granted on August 13, 2021 and vests in installments; the vested units reported here reflect scheduled vesting and tax-related share surrender. The filing includes the 10b5-1 box checked, suggesting at least one transaction may have been executed under a prearranged plan. All disclosures required by Section 16 are present and the signature certifies accuracy. Materiality to investors is low absent larger concurrent insider sales or company events.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 15,525 | $0.00 | -- |
| Exercise | Common Stock, par value $0.0001 per share | 15,525 | $0.00 | -- |
| Tax Withholding | Common Stock, par value $0.0001 per share | 7,729 | $7.61 | $59K |
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 Reporting Person. Restricted Stock Unit award was granted on August 13, 2021 (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.
