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

Paycom's CEO, Chad Richison, executed multiple sales of common stock on August 6, 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 6, 2024.
• The sales were executed under a joint Rule 10b5-1 trading plan adopted on February 16, 2024, by Richison and Ernest Group, Inc.
• The transactions involved multiple sales at varying prices, ranging from $158.46 to $161.99 per share.
• Richison sold shares directly and indirectly through Ernest Group, Inc., and several irrevocable trusts.
• Following the reported transactions, Richison directly owns 2,986,658 shares and indirectly owns 3,563,749 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, but rather provides factual information.

Industry Context

Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over a period of time while avoiding concerns about trading on non-public 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 potentially influence the market price of Paycom shares, affecting shareholders.
• The sales do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates