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

Paycom Software's CEO, Chad R. Richison, executed sales of common stock on June 27, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Chad R. Richison, CEO, President, and Chairman of Paycom Software, Inc., sold shares of common stock on June 27, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 16, 2024.
• Multiple transactions occurred at varying prices, ranging from $140.47 to $143.09.
• Richison sold shares directly and indirectly through Ernest Group, Inc., where he is the sole director.
• He also has beneficial ownership through various irrevocable trusts for his children and grandchildren, where he serves as the trustee.
• The reported transactions involved the sale of 450 shares at $140.76, 1,050 shares at $142.04, and 450 shares at $142.71.
• Following the reported transactions, Richison directly owns 3,039,308 shares and indirectly owns 3,616,399 shares through Ernest Group, Inc.

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. Rule 10b5-1 plans allow insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The sales do not appear to have any immediate impact on employees, customers, suppliers, or creditors.

Key Dates