SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES


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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1. Name and Address of Reporting Person*
O'Loughlin Mary

(Last) (First) (Middle)
100 CENTERVIEW DRIVE
SUITE 300

(Street)
NASHVILLE TN 37214

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
09/14/2023
3. Issuer Name and Ticker or Trading Symbol
HireRight Holdings Corp [ HRT ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, North America
5. 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 Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 3,432(1) D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (2) 02/01/2029(2) Common Stock 6,262 15.97 D
Stock Option (3) 06/01/2029(3) Common Stock 23,482 15.97 D
Stock Option(4) (4) 02/01/2029(4) Common Stock 6,262 15.97 D
Stock Option(5) (5) 06/01/2029(5) Common Stock 23,482 15.97 D
Stock Option (6) 10/28/2031(6) Common Stock 39,414 19 D
Restricted Stock Unit (RSU)(7) (8) (8) Common Stock 9,079 0 D
Restricted Stock Unit (RSU)(7) (9) (9) Common Stock 39,421 0 D
Performance-based Restricted Stock Unit (PSU) (10) (10) Common Stock 35,273 0 D
Restricted Stock Unit (RSU)(7) (11) (11) Common Stock 18,348 0 D
Explanation of Responses:
1. Represents 3,026 shares issued upon vesting of Restricted Stock Units as well as shares purchased pursuant to the Issuer's Employee Stock Purchase Plan.
2. Stock option granted on February 1, 2019, of which 25% vested and became exercisable on February 1, 2020, and the remaining 75% vested and became exercisable in 12 equal installments thereafter.
3. Stock option granted on June 1, 2019, of which 25% vested and became exercisable on June 1, 2020, and the remaining 75% vested and became exercisable in 12 equal installments thereafter.
4. This option to purchase shares of the Issuer's common stock was originally issued to the reporting person pursuant to an agreement dated February 1, 2019. The option's original terms provided for vesting based upon the cash-on-cash return received by the Issuer's pre-IPO investors on their investment in the Issuer. To retain and motivate the reporting person, the compensation committee of the Issuer's board of directors offered to the reporting person an amendment to the option to change its vesting to service-based vesting in 12 equal quarterly installments beginning on March 31, 2022 and ending December 31, 2024 if the recipient remains in service. The reporting person accepted the amendment. For more information, see the Issuer's Current Report on Form 8-K filed with the SEC on March 24, 2022.
5. This option to purchase shares of the Issuer's common stock was originally issued to the reporting person pursuant to an agreement dated June 1, 2019. The option's original terms provided for vesting based upon the cash-on-cash return received by the Issuer's pre-IPO investors on their investment in the Issuer. To retain and motivate the reporting person, the compensation committee of the Issuer's board of directors offered to the reporting person an amendment to the option to change its vesting to service-based vesting in 12 equal quarterly installments beginning on March 31, 2022 and ending December 31, 2024 if the recipient remains in service. The reporting person accepted the amendment. For more information, see the Issuer's Current Report on Form 8-K filed with the SEC on March 24, 2022.
6. Stock option granted on October 28, 2021, of which 25% vested and became exercisable on October 28, 2022, and the remaining 75% will vest and become exercisable in 12 equal installments thereafter, subject to continued employment through the applicable vesting date.
7. Each restricted stock unit (RSU) represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
8. 12,105 restricted stock units (RSUs) were originally granted on October 28, 2021 under the Company's 2021 Omnibus Incentive Plan, of which 25% vested on November 20, 2022, and 75% generally vesting on each of November 20, 2023, November 20, 2024, and November 20, 2025, subject to continued employment through the vesting date.
9. 39,421 restricted stock units (RSUs) were originally granted on November 7, 2022 under the Company's 2021 Omnibus Incentive Plan, which will vest on each of November 20, 2023, November 20, 2024, and November 20, 2025, subject to continued employment through the vesting date.
10. Performance-based restricted stock unit ("PSU") award for 35,273 units (the "Nominal Share Amount") granted on March 20, 2023, which generally vests on March 20, 2026, based on the attainment of absolute total stockholder return ("TSR") of between 75% and 125% on the stock price on the grant date (i.e.: $10.90) over a period of three years from the grant date and subject to continued employment through the vesting date. If TSR is less than 75%, then all of the PSUs will lapse without further consideration. If TSR is greater than 125% of the target, then the PSUs will vest to 125% of the Nominal Share Amount. If TSR is between 75% and 125% of target, then the PSUs will vest to a number of shares equal to the product of the Nominal Share Amount and the TSR.
11. 18,348 restricted stock units (RSUs) were originally granted on March 20, 2023 under the Company's 2021 Omnibus Incentive Plan that will vest 25% on each of May 20, 2024, May 20, 2025, May 20, 2026 and May 20, 2027, subject to continued employment through the vesting date.
Remarks:
Exhibit List - Exhibit 24.1 Power of Attorney
/s/ Brian Copple as Attorney-in-Fact, for Mary O'Loughlin 09/22/2023
** Signature of Reporting Person Date
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 5 (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).
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