SEC FORM 4

SEC FORM 4 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^*

Fikry Christopher

(Last)

(First)

(Middle)

C/O PPD, INC.

929 NORTH FRONT STREET

(Street)

WILMINGTON

28401

(City)

(State)

(Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2021

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$10.59	02/11/2021		A⁽¹⁾		27,415		⁽²⁾	07/24/2027	Common Stock	27,415	$0.00	51,090	D
Stock Options (Right to Buy)	$21.7	02/11/2021		A⁽¹⁾		5,086		⁽³⁾	11/26/2029	Common Stock	5,086	$0.00	45,899	D
Stock Options (Right to Buy)	$37.22	02/11/2021		A		148,681		⁽⁴⁾	02/11/2031	Common Stock	148,681	$0.00	148,681	D

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 51,090 vested stock options. Does not include an additional 24,918 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. Represents 45,899 stock options of which 11,612 are vested and of which 23,226 are unvested and will vest in equal annual installments on November 26, 2021, November 26, 2022, November 26, 2023 and November 26, 2024 and 11,061 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 23,226 stock options with an exercise price of $21.70 which are eligible to vest upon the achievement of certain EBITDA-based vesting conditions for fiscal years 2021-2024.

4. These options to purchase common stock vest with 122,624 vesting on the third anniversary of the grant date and 26,057 vesting in four equal installments beginning on the first anniversary of the grant date.

Remarks:

EVP, Global Laboratory Services

	/s/ Richard Whitlow, as Attorney-in-Fact	02/16/2021
	** 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 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).
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