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

Paycom's CEO, Chad Richison, executed sales of common stock on September 25, 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 September 25, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 16, 2024.
• The transactions involved multiple sales at varying prices, ranging from $168.67 to $173.04.
• Richison sold shares directly and indirectly through Ernest Group, Inc., and several irrevocable trusts.
• Following the reported transactions, Richison directly owns 2,801,160 shares and indirectly owns 3,495,499 shares through Ernest Group, Inc.
• He also has indirect ownership through various trusts for his children and grandchildren.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by insiders are common and often pre-planned to avoid accusations of trading on inside information. The use of a 10b5-1 plan provides a legal framework for insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sale could have a minor impact on shareholder sentiment, depending on how the market interprets the insider selling activity.

Key Dates