Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard? Transfer of Listing. (a) By letter datedDecember 27, 2019 ,Performant Financial Corporation (the "Company") received notice from theListing Qualifications Department of theNASDAQ Stock Market ("NASDAQ") that based upon the closing bid price of the Company's shares of common stock for the last 30 consecutive business days, the Company no longer meets the requirement set forth in NASDAQ Rule 5450(a)(1), which requires listed securities to maintain a minimum bid price of$1 per share (the "Minimum Bid Price Rule"). In accordance with NASDAQ Rule 5810(c)(3)(A), the Company has been provided with a period of 180 calendar days, or untilJune 24, 2020 , to regain compliance with the Minimum Bid Price Rule. The Company may regain compliance with the Minimum Bid Price Rule if the bid price of its common stock closes at$1.00 per share or more for a minimum of 10 consecutive business days at any time prior toJune 24, 2020 . The Company is considering available options to regain compliance with NASDAQ's Minimum Bid Price Rule.
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