Form 4: Paycom CEO Chad Richison Sells Shares Under 10b5-1 Trading Plan

Paycom's CEO, Chad Richison, executed sales of company stock on October 16, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Chad Richison, CEO, President, and Chairman of Paycom Software, Inc., sold shares of common stock on October 16, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 16, 2024.
• The transactions involved multiple sales at weighted average prices ranging from $162.77 to $165.11.
• Richison sold shares directly and indirectly through Ernest Group, Inc., of which he is the sole director and which is wholly owned by him and certain trusts for his children.
• He also reported beneficial ownership of shares held in various irrevocable trusts for the benefit of his grandchildren and children, for which he serves as settlor and trustee.
• Additionally, shares are held in a trust for the benefit of his spouse.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an insider. The sales were conducted under a pre-arranged plan, so the sentiment is neutral.

Industry Context

Insider sales are a common occurrence, but are closely watched by investors for signals about management's confidence in the company's future prospects. Sales under a 10b5-1 plan are generally viewed as less concerning since they are pre-arranged.

Key Dates