4/A: Paychex Executive Mark Bottini Corrects Stock Grant Reporting in Amended SEC Filing
SEC Form 4/A
Mark Bottini, a Senior VP at Paychex, files an amended SEC Form 4 to correct an underreported number of performance shares granted.
Summary
- Mark Bottini, a Senior VP of Sales at Paychex, filed an amended Form 4/A with the SEC.
- The amendment corrects an administrative error related to the number of performance shares granted, which was underreported in the original Form 4 filing.
- The original transaction date was July 15, 2024, and the amendment was filed on August 6, 2024.
- Bottini acquired 514 shares of common stock on July 15, 2024, at $0 per share.
- Following the reported transactions, Bottini directly owns 79,746 shares of common stock and indirectly owns 1,668 shares through a 401(k) and 23 shares through an ESPP.
- Bottini also holds various stock options with exercise prices ranging from $47.32 to $121.63, expiring between 2025 and 2034.
- A Limited Power of Attorney was executed on August 1, 2024, appointing Prabha S. Bhandari and Robert L. Schrader as attorneys-in-fact for Section 16 reporting obligations.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, but the correction of an error and the executive's continued stock ownership suggest a stable outlook.
Positives
- The filing corrects a previous error, ensuring accurate reporting of executive stock ownership.
- The executive maintains a significant holding of Paychex stock and options, aligning their interests with shareholders.
Industry Context
Executive stock ownership and trading activity are closely monitored in the financial industry as they can provide insights into a company's performance and management's confidence.
Stakeholder Impact
- Shareholders benefit from accurate reporting of executive stock ownership.
- The filing ensures transparency and compliance with SEC regulations.
Key Dates
| Date | Description |
|---|---|
| 07/08/2016 | Date exercisable for some stock options |
| 07/06/2017 | Date exercisable for some stock options |
| 07/12/2018 | Date exercisable for some stock options |
| 07/11/2019 | Date exercisable for some stock options |
| 07/10/2020 | Date exercisable for some stock options |
| 07/15/2021 | Date exercisable for some stock options |
| 07/15/2022 | Date exercisable for some stock options |
| 07/15/2023 | Date exercisable for some stock options |
| 07/15/2024 | Date of stock acquisition and date exercisable for some stock options |
| 07/15/2025 | Date exercisable for some stock options |
| 07/07/2025 | Expiration date for some stock options |
| 07/05/2026 | Expiration date for some stock options |
| 07/11/2027 | Expiration date for some stock options |
| 07/10/2028 | Expiration date for some stock options |
| 07/09/2029 | Expiration date for some stock options |
| 07/14/2030 | Expiration date for some stock options |
| 07/14/2031 | Expiration date for some stock options |
| 07/14/2032 | Expiration date for some stock options |
| 07/14/2033 | Expiration date for some stock options |
| 07/14/2034 | Expiration date for some stock options |
| 08/01/2024 | Date of Limited Power of Attorney execution |
| 08/06/2024 | Date of amended Form 4/A filing |
| 10/22/2026 | Expiration of Notary Public's commission |
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