# EDGAR Filing Document

**Accession Number:** 0001279880
**File Stem:** 0000899243-23-008925
**Filing Date:** 2023-3
**Character Count:** 13660
**Document Hash:** bdadccfa812a3728507de4ecc562ff4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899243-23-008925.hdr.sgml**: 20230317

**ACCESSION NUMBER**: 0000899243-23-008925

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230315

**FILED AS OF DATE**: 20230317

**DATE AS OF CHANGE**: 20230317

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** PRESCOTT GROUP AGGRESSIVE SMALL CAP LP
- **CENTRAL INDEX KEY:** 0001127428
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35628
- **FILM NUMBER:** 23743956

**BUSINESS ADDRESS:**
- **STREET 1:** 1924 SOUTH IRICA SUITE 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 741046529
- **BUSINESS PHONE:** 9187473411

**MAIL ADDRESS:**
- **STREET 1:** 1924 SOUTH IRICA SUITE 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 741046529
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** FROHLICH PHIL
- **CENTRAL INDEX KEY:** 0001127429
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35628
- **FILM NUMBER:** 23743953

**MAIL ADDRESS:**
- **STREET 1:** 1924 SOUTH IRICA SUITE 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 741046529
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
- **CENTRAL INDEX KEY:** 0001166152
- **STATE OF INCORPORATION:** OK
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35628
- **FILM NUMBER:** 23743957

**BUSINESS ADDRESS:**
- **STREET 1:** 1924 SOUTH UTICA
- **STREET 2:** SUITE 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 74104-6429
- **BUSINESS PHONE:** 918-747-3412

**MAIL ADDRESS:**
- **STREET 1:** 1924 SOUTH UTICA
- **STREET 2:** SUITE 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 74104-6429

**FORMER NAME:**
- **FORMER CONFORMED NAME:** PRESCOTT GROUP CAPITAL MANAGEMENT LLC
- **DATE OF NAME CHANGE:** 20020128
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** PRESCOTT GROUP AGGRESSIVE SMALL CAP MASTER FUND GP
- **CENTRAL INDEX KEY:** 0001279880

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35628
- **FILM NUMBER:** 23743954

**MAIL ADDRESS:**
- **STREET 1:** 1924 S UTICA SUITE # 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 74104-6529
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** PRESCOTT GROUP AGGRESSIVE SMALL CAP II LP
- **CENTRAL INDEX KEY:** 0001279882

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35628
- **FILM NUMBER:** 23743955

**MAIL ADDRESS:**
- **STREET 1:** 1924 S UTICA SUITE # 1120
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 74104-6529
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Performant Financial Corp
- **CENTRAL INDEX KEY:** 0001550695
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
- **IRS NUMBER:** 200484934
- **STATE OF INCORPORATION:** DE

**BUSINESS ADDRESS:**
- **STREET 1:** 333 NORTH CANYONS PARKWAY
- **CITY:** Livermore
- **STATE:** CA
- **ZIP:** 94551
- **BUSINESS PHONE:** 925-960-4800

**MAIL ADDRESS:**
- **STREET 1:** 333 NORTH CANYONS PARKWAY
- **CITY:** Livermore
- **STATE:** CA
- **ZIP:** 94551

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.<br><sub>(Last) (First) (Middle)</sub><br>1924 SOUTH UTICA, SUITE 1120<br><sub>(Street)</sub><br>TULSA, OK 74104<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Performant Financial Corp [ PFMT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>PRESCOTT GROUP AGGRESSIVE SMALL CAP LP<br><sub>(Last) (First) (Middle)</sub><br>1924 SOUTH UTICA, SUITE 1120<br><sub>(Street)</sub><br>TULSA,, OK 74104<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Performant Financial Corp [ PFMT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>PRESCOTT GROUP AGGRESSIVE SMALL CAP II LP<br><sub>(Last) (First) (Middle)</sub><br>1924 SOUTH UTICA, SUITE 1120<br><sub>(Street)</sub><br>TULSA, OK 74104<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Performant Financial Corp [ PFMT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>PRESCOTT GROUP AGGRESSIVE SMALL CAP MASTER FUND GP<br><sub>(Last) (First) (Middle)</sub><br>1924 SOUTH UTICA, SUITE 1120<br><sub>(Street)</sub><br>TULSA, OK 74104<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Performant Financial Corp [ PFMT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>FROHLICH PHIL<br><sub>(Last) (First) (Middle)</sub><br>1924 SOUTH UTICA, SUITE 1120<br><sub>(Street)</sub><br>TULSA, OK 74104<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Performant Financial Corp [ PFMT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock, par value $0.0001 per share | 2023-03-15 |  | P |  | 5635 | A | $2.85 | 15460339<sup>(1)</sup> | I | See Footnote<sup>(2)</sup> |
| Common Stock, par value $0.0001 per share | 2023-03-16 |  | P |  | 2770 | A | $2.80 | 15463109<sup>(1)</sup> | I | See Footnote<sup>(2)</sup> |
| Common Stock, par value $0.0001 per share | 2023-03-17 |  | P |  | 300182 | A | $2.66 | 15763291<sup>(1)</sup> | I | See Footnote<sup>(2)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) The filing of this Form 4 shall not be construed as an admission that Prescott Group Capital Management, L.L.C. ("Prescott Capital") or Phil Frohlich, the managing member of Prescott Capital, is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the Common Stock, par value $0.0001 per share (the "Common Stock"), of Performant Financial Corporation (the "Issuer") held by Prescott Group Aggressive Small Cap Master Fund, G.P. (the "Master Fund") for the accounts of Prescott Group Aggressive Small Cap, L.P. and Prescott Group Aggressive Small Cap II, L.P. (together, the "Small Cap Funds"). Pursuant to Rule 16a-1, both Prescott Capital and Mr. Frohlich disclaim such beneficial ownership.

(2) This Form 4 relates to shares of Common Stock of the Issuer held in the account of the Master Fund, of which the Small Cap Funds are general partners. Prescott Capital serves as the general partner and investment manager of the Small Cap Funds and may direct the Small Cap Funds. The Master Fund holds the shares of Common Stock for the accounts of the Small Cap Funds. Prescott Capital receives a portion of the profits in the way of a capital allocation from, and owns a partnership interest in, the Small Cap Funds. Phil Frohlich reports the Common Stock held indirectly by Prescott Capital because, as the managing member of Prescott Capital at the time of purchase, he controlled the disposition and voting of the securities.

**Signature:** PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. Name: /s/ Phil Frohlich Title: Managing Member  
**Date:** 2023-03-17

**Signature:** PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P. By: Prescott Group Capital Management, L.L.C., its general partner Name: /s/ Phil Frohlich Title: Managing Member  
**Date:** 2023-03-17

**Signature:** PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P. By: Prescott Group Capital Management, L.L.C., its general partner Name: /s/ Phil Frohlich Title: Managing Member  
**Date:** 2023-03-17

**Signature:** PRESCOTT GROUP AGGRESSIVE SMALL CAP MASTER FUND, G.P. By: Prescott Group Aggressive Small Cap, L.P., GP By: Prescott Group Aggressive Small Cap II, L.P., GP By: Prescott Group Capital Management, L.L.C., GP Name: /s/ Phil Frohlich Title: MM  
**Date:** 2023-03-17

**Signature:** /s/ Phil Frohlich  
**Date:** 2023-03-17

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**