BNFT Benefitfocus Inc.

Benefitfocus Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

Benefitfocus Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

CHARLESTON, S.C., Aug. 09, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ: BNFT) (“Benefitfocus” or the “Company”), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, today announced that, in connection with the appointment of Ed Rumzis as executive vice president and chief technology officer, and in accordance with the terms of his employment agreement with the Company, the Compensation and Talent Committee of Benefitfocus’ Board of Directors approved an initial equity grant to Mr. Rumzis of 187,664 restricted stock units (“RSUs”) with a value of $1,500,000 (the “Initial Grant”).

The Initial Grant will vest in four equal annual installments beginning on the first anniversary of Mr. Rumzis’ start date of August 8, 2022, subject to Mr. Rumzis continuing with the Company through the applicable vesting dates and with potential acceleration upon certain terminations of employment. 

The Initial Grant was made as a material inducement to Mr. Rumzis becoming an employee of the Company in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs are subject to the terms and conditions of the grant agreement covering the Initial Grant.

About Benefitfocus 

Benefitfocus (NASDAQ: BNFT) is a cloud-based benefits administration technology company committed to helping our customers, and the people they serve, get the most out of their health care and benefit programs. Through exceptional service and innovative SaaS solutions, we aim to be the safest set of hands for our customers helping to simplify the complexity of benefits administration while delivering an experience that engages people and unlocks the potential for better health and improved outcomes.  Our mission is simple: to improve lives with benefits. 

Media:

Maurissa Kanter





Investor Relations:

Doug Kuckelman

843-790-7460

Safe Harbor Statement

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to maintain our culture and recruit, integrate and retain qualified personnel, including on our Board of Directors; our ability to compete effectively and implement our growth strategy; our reliance on channel relationships; market developments and opportunities; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services; privacy; security and other risks associated with our business; management of growth; volatility and uncertainty in the global economy and financial markets in light of the evolving COVID-19 pandemic and war in Ukraine; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at or upon request from our Investor Relations Department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.



EN
09/08/2022

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Benefitfocus Inc.

 PRESS RELEASE

Announcing the Effective Date of a Make-Whole Fundamental Change

Announcing the Effective Date of a Make-Whole Fundamental Change CHARLESTON, S.C., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Reference is made to the Indenture, dated as of December 27, 2018 (the “Indenture”), between Benefitfocus, Inc., a Delaware corporation (“Benefitfocus”) and U.S. Bank Trust Company, National Association, a national banking association, as Trustee (the “Trustee”), relating to Benefitfocus’ 1.25% Convertible Senior Notes due 2023 (the “Notes”). Approximately $6.8 million in Notes remain outstanding. Capitalized terms used but not defined herein shall have the respective meani...

 PRESS RELEASE

Benefitfocus Shareholders Approve Merger with Voya Financial

Benefitfocus Shareholders Approve Merger with Voya Financial CHARLESTON, S.C., Jan. 20, 2023 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT) announced that at a special meeting today, Benefitfocus’s stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial, Inc. Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each share of Benefitfocus common stock will be cancelled and converted into the right to receive $10.50 in cash. The transaction remains subject to ce...

 PRESS RELEASE

Benefitfocus’ ACA Compliance Solution to be Offered as an SAP Solution...

Benefitfocus’ ACA Compliance Solution to be Offered as an SAP Solution Extension More U.S. Employers Seeking Better Ways to Manage ACA Compliance and Reduce Risk CHARLESTON, S.C., Dec. 19, 2022 (GLOBE NEWSWIRE) --  (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, today announced that its ACA compliance solution will be sold as an SAP Solution Extension under the name SAP U.S. Benefits Administration by Benefitfocus, reporting option for the Aff...

 PRESS RELEASE

Benefitfocus Announces Third Quarter 2022 Financial Results 

Benefitfocus Announces Third Quarter 2022 Financial Results  CHARLESTON, S.C., Nov. 07, 2022 (GLOBE NEWSWIRE) --  (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that serves employers, health plans and brokers, today announced its third quarter 2022 financial results:   Financial Highlights for the Third Quarter 2022: Revenue of $56.2 million was within the guidance range of $55 million to $57 million.Adjusted EBITDA of $5.7 million was at the high end of the guidance range of $4 million to $6 million.GAAP net loss available to common stockhol...

 PRESS RELEASE

Benefitfocus Cancels Third Quarter 2022 Earnings Conference Call

Benefitfocus Cancels Third Quarter 2022 Earnings Conference Call CHARLESTON, S.C., Nov. 01, 2022 (GLOBE NEWSWIRE) --  (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced the cancellation of its earnings conference call for the quarter ended September 30, 2022, that had originally been scheduled for November 7, 2022, at 5:00 p.m. ET. The call is being cancelled due to the announcement of the pending transaction with Voya Financial, Inc. About Benefitfocus...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch