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

Paycom's CEO, Chad Richison, executed sales of company stock on July 9, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Chad Richison, CEO, President, and Chairman of Paycom Software, Inc., sold 1,950 shares of common stock on July 9, 2024.
• The sales were executed at a weighted average price of $140.19 per share, with individual transactions ranging from $139.91 to $140.75.
• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 16, 2024.
• Following the reported transaction, Richison directly owns 3,025,658 shares.
• Richison also has indirect ownership through various trusts, including those for his children and grandchildren.
• These trusts include Ernest Group, Inc., Faye Penelope Richison 2023 Irrevocable Trust, Rome West Pedersen 2023 Irrevocable Trust, and several others.
• The reporting person is the sole director of Ernest Group, and Ernest Group is wholly owned by the reporting person and certain trusts for the reporting person's children, for which the reporting person serves as trustee.
• The reporting person may be deemed to beneficially own the shares of common stock owned by Ernest Group.
• The reporting person is the settlor and sole trustee for the FPR Trust, which is for the benefit of the reporting person's grandchild.
• The reporting person may be deemed to beneficially own the shares of common stock owned by the FPR Trust.

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 non-public information. The use of a 10b5-1 plan suggests the sales were scheduled in advance.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, although it is likely to be minimal given the pre-planned nature of the transaction.

Key Dates