BNFT - BNFT STOCK NEWS

Benefitfocus (NASDAQ: BNFT) announced the date for its fourth quarter and full year 2020 financial results, scheduled to be released after market close on March 8, 2021. The company will also host a conference call at 5:00 p.m. ET that day to discuss the results and outlook. Additionally, Benefitfocus invites the investor community to its annual user conference, One Place 2021, which will be held virtually on March 2 and 3, 2021, focusing on industry trends and challenges, particularly those arising from the pandemic.

Benefitfocus (NASDAQ: BNFT) has announced its agenda for the virtual One Place 2021 conference, scheduled for March 2 and 3. The conference aims to connect leaders in benefits and health care, focusing on challenges from 2020 and opportunities for innovation in employee benefits. Key sessions will include insights from industry professionals and discussions on enhancing benefits administration. The event addresses needs such as plan design improvement and strategic analytics use, aligning with Benefitfocus' mission to improve lives with benefits.

Benefitfocus (NASDAQ: BNFT) issued a response to Indaba Capital Management, emphasizing its commitment to shareholder value amid ongoing discussions. The company details efforts to enhance corporate governance and leadership under CEO Stephen Swad, who has a successful track record. Notable changes include the appointment of new board members and plans to declassify the board for annual elections. Benefitfocus aims to improve performance and profitability while navigating challenges posed by COVID-19, showcasing its desire for constructive engagement with shareholders.

Indaba Capital Management, a significant stakeholder in Benefitfocus (BNFT), expressed dissatisfaction with the Board's governance changes, labeling them inadequate. Indaba, owning 9.6% of common shares and 22.9% of convertible notes, stated that the Board's failures have contributed to the company's underperformance. They recommended adding independent directors and forming a special committee to explore strategic alternatives, including a potential sale. Indaba criticized the Board's reluctance to implement necessary changes and highlighted the need for improving shareholder representation.

Benefitfocus (NASDAQ: BNFT) has announced strategic advancements following a successful open enrollment period. The company aims to maximize operational efficiencies and shareholder value by enhancing its leadership, strengthening its balance sheet, and improving customer experience. Key changes include the appointment of Doug Dennerline as independent chairman and Zeynep Young as a new independent director. Additionally, the board plans to declassify its directors and implement a majority voting standard for board elections. These moves are intended to drive profitability and position the company for future growth.

Benefitfocus, Inc. (NASDAQ: BNFT) has announced an enhanced partnership with Transamerica, enabling integrated retirement plan enrollment through its Benefitplace™ platform. This development streamlines the enrollment process for 401(k) and 403(b) plans, allowing employees an easier experience without multiple logins. The integration aims to boost participation rates in retirement plans, addressing barriers caused by managing separate platforms for different benefits. This innovation could potentially reduce administrative fees for employers by increasing assets in retirement plans.

On Nov. 17, 2020, Benefitfocus (NASDAQ: BNFT) launched the third phase of its educational series titled "Open Enrollment Success in the Era of COVID." This six-week program aims to assist benefits administrators in evaluating the effectiveness of open enrollment campaigns during the 2020 period. The Resource Center offers tools such as the Open Enrollment Metrics Report Template and Scorecard to facilitate this analysis. The series is designed to leverage insights from numerous open enrollment events to enhance future campaigns.