Sec Form 4 Filing - Johnston David Michael @ PPD, Inc. - 2021-02-11

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Johnston David Michael
2. Issuer Name and Ticker or Trading Symbol
PPD, Inc. [ PPD]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
See Remarks
(Last) (First) (Middle)
C/O PPD, INC., 929 NORTH FRONT STREET
3. Date of Earliest Transaction (MM/DD/YY)
02/11/2021
(Street)
WILMINGTON, NC28401
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 10.59 02/11/2021 A( 1 ) 36,550 ( 2 ) 05/11/2027 Common Stock 36,550 $ 0 267,480 D
Stock Options (Right to Buy) $ 37.22 02/11/2021 A 151,747 ( 3 ) 02/11/2031 Common Stock 151,747 $ 0 151,747 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Johnston David Michael
C/O PPD, INC.
929 NORTH FRONT STREET
WILMINGTON, NC28401
See Remarks
Signatures
/s/ Richard Whitlow, as Attorney-in-Fact 02/16/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents previously awarded stock options vesting upon the achievement of certain EBITDA vesting conditions for fiscal 2020, which were determined to be earned subject to the receipt by the Issuer of the completed audit of its fiscal 2020 financial statements.
( 2 )Represents 68,116 vested stock options and 199,364 unvested stock options which are eligible to vest upon the achievement of certain return on capital or rate of return conditions three years after the initial public offering of the Issuer or earlier, upon certain sales by significant stockholders. Does not include an additional 33,227 stock options with an exercise price of $10.59 which are eligible to vest upon the achievement of certain EBITDA-based vesting conditions for fiscal year 2021.
( 3 )These options to purchase common stock vest with 122,624 vesting on the third anniversary of the grant date and 29,123 vesting in four equal annual installments beginning on the first anniversary of the grant date.

Remarks:
Title: EVP of Global Clinical Development

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