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

Paycom's CEO, Chad Richison, executed sales of company stock on August 27, 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 August 27, 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 $161.78 to $164.32 per share.
• Richison sold shares directly and indirectly through Ernest Group, Inc., where he is the sole director and which he wholly owns with certain trusts.
• He also has indirect ownership through several irrevocable trusts for the benefit of his grandchildren and children.
• The total number of directly owned shares after the transactions is 2,957,408.
• The total number of indirectly owned shares through Ernest Group, Inc. after the transactions is 3,534,499.
• He also has indirect ownership through several irrevocable trusts for the benefit of his grandchildren and children.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock sales under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment about the company's prospects.

Industry Context

Insider 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 non-public information. The market typically analyzes these sales in the context of the company's performance and future prospects.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders, depending on market perception.
• The stock sale has no direct impact on employees, customers, suppliers, or creditors.

Key Dates