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 3, 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 3, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 16, 2024.
• A total of 1,950 shares were sold in multiple transactions at weighted average prices of $165.57 and $166.42.
• Following the transactions, Richison directly owns 2,789,460 shares.
• Richison also indirectly owns shares through Ernest Group, Inc. and several irrevocable trusts for the benefit of his children and grandchildren.
• The reporting person may be deemed to beneficially own the shares of common stock owned by Ernest Group.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to insider stock sales under a pre-arranged plan, so it has a neutral sentiment.

Industry Context

Insider selling is a common occurrence, and the use of 10b5-1 trading plans allows insiders to sell shares over time while avoiding accusations of trading on material non-public information. The market will often scrutinize the timing and size of insider sales for signals about the company's prospects.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, depending on how the market interprets the transaction.

Key Dates