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

Paycom's CEO, Chad Richison, executed sales of Paycom Software, Inc. common stock on September 10, 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 10, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 16, 2024.
• The transactions involved multiple sales at varying prices, ranging from $162.15 to $167.04 per share.
• Richison sold shares directly and indirectly through Ernest Group, Inc., where he is the sole director and the entity is wholly owned by him and certain trusts for his children.
• He also has beneficial ownership through various irrevocable trusts for his children and grandchildren, and a revocable trust for his spouse.
• After the reported transactions, Richison directly owns 2,939,858 shares and indirectly owns 3,516,949 shares through Ernest Group, Inc.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an executive. It's neutral in tone and doesn't inherently suggest positive or negative sentiment. The sales are pre-planned under a 10b5-1 plan.

Industry Context

Executive stock sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over time while avoiding accusations of trading on inside information. The market typically views these sales in the context of the overall health and prospects of the company.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating downward pressure on the stock price in the short term.
• The sales do not appear to have any immediate impact on employees, customers, suppliers, or creditors.

Key Dates