Form 4: Paychex SVP Michael Gioja Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Paychex's Senior Vice President Michael E. Gioja disposed of 480 shares of common stock on October 16, 2024, to satisfy tax withholding obligations related to restricted stock units.
Summary
- On October 16, 2024, Michael E. Gioja, a Senior Vice President at Paychex Inc. (PAYX), disposed of 480 shares of Paychex common stock.
- The transaction was executed to cover tax withholding obligations arising from the vesting of restricted stock units.
- The price per share was $142.28.
- Following the transaction, Gioja directly owns 14,035 shares of Paychex common stock.
- Gioja also indirectly owns 9,948 shares through the Michael E. Gioja Revocable Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects a routine transaction for tax purposes and doesn't indicate any strategic shift or concern about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transaction has minimal impact on stakeholders as it is a small percentage of the total outstanding shares and is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 07/11/2019 | Date exercisable for stock options with an exercise price of $69.54 and expiration date of 07/10/2028 |
| 07/10/2020 | Date exercisable for stock options with an exercise price of $85.46 and expiration date of 07/09/2029 |
| 07/15/2021 | Date exercisable for stock options with an exercise price of $73.53 and expiration date of 07/14/2030 |
| 07/15/2022 | Date exercisable for stock options with an exercise price of $112.67 and expiration date of 07/14/2031 |
| 07/15/2023 | Date exercisable for stock options with an exercise price of $115 and expiration date of 07/14/2032 |
| 07/15/2024 | Date exercisable for stock options with an exercise price of $120.86 and expiration date of 07/14/2033 |
| 07/15/2024 | Date exercisable for stock options with an exercise price of $121.63 and expiration date of 07/14/2034 |
| 10/16/2024 | Date of transaction where 480 shares were disposed of to cover tax obligations. |
| 10/18/2024 | Date of signature on the Form 4 filing. |
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