Bonello Michael J. Form 4 PRA Health Sciences / Michael J. Bonello ownership change

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

Bonello Michael J.

(Last) (First) (Middle)

C/O PRA HEALTH SCIENCES, INC.

4130 PARKLAKE AVENUE, SUITE 400

(Street)

RALEIGH NC 27612

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PRA Health Sciences, Inc. [ PRAH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP & CFO

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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
Common Stock	06/01/2021		A(1)		4,823	A	$0	24,051	D
Common Stock	06/01/2021		S(2)		1,278	D	$170.45	22,773	D
Common Stock	06/01/2021		S(3)		906	D	$170.45	21,867	D

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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
Restricted Stock Unit	(4)	06/01/2021		M			2,823	(4)	(5)	Common Stock	2,823	$0	5,647	D
Restricted Stock Unit	(6)	06/01/2021		M			2,000	(6)	(5)	Common Stock	2,000	$0	2,000	D
Restricted Stock Unit	(7)	06/01/2021		A		14,008		(7)	(5)	Common Stock	14,008	$0	14,008	D

Explanation of Responses:

1. Represents the vesting of two separate tranches of restricted stock units granted on June 1, 2020.

2. Represents the number of shares required to be sold by the reporting person to satisfy tax withholding obligations related to the vesting of 2,823 restricted stock units from a June 1, 2020 grant of 8,470 restricted stock units which, upon vesting, convert into Issuer's common stock on a one-for-one basis under the PRA Health Sciences, Inc. 2020 Stock Incentive Plan. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.

3. Represents the number of shares required to be sold by the reporting person to satisfy tax withholding obligations related to the vesting of 2,000 restricted stock units from a June 1, 2020 grant of 4,000 restricted stock units which, upon vesting, convert into Issuer's common stock on a one-for-one basis under the PRA Health Sciences, Inc. 2020 Stock Incentive Plan. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.

4. Restricted stock units were granted on June 1, 2020 and convert into Issuer's common stock on a one-for one basis in an amount equal to one-third of the total amount per year on each anniversary of the grant date, subject to the holder's continued service through each vesting date.

5. Not applicable.

6. Restricted stock units were granted on June 1, 2020 and convert into Issuer's common stock on a one-for one basis in an amount equal to 50% of the total amount per year on each anniversary of the grant date, subject to the holder's continued service through each vesting date.

7. Restricted stock units convert into the Issuer's common stock on a one-for-one basis in an amount equal to one-third of the total amount per year on each anniversary of the grant date, subject to the holder's continued service through each vesting date.

	By: /s/ Jessica Nielsen Causey, by power of attorney	06/03/2021
	** Signature of Reporting Person	Date
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