Form 4: Paycom CFO withholds 1,092 shares for taxes

Paycom CFO Robert D. Foster withheld 1,092 shares at $166.12 to cover taxes on the vesting of 3,750 restricted shares and now directly holds 16,047 shares.

Summary

• Robert D. Foster, CFO of Paycom (PAYC), had 1,092 common shares withheld on 11/14/2025 to satisfy tax obligations tied to the vesting of 3,750 restricted shares granted on 11/14/2022.
• The withholding price was $166.12 per share; no shares were sold in the open market.
• Post-transaction direct beneficial ownership totals 16,047 shares.
• Indirect beneficial ownership includes 26 shares held by spouse.
• Direct holdings include 9,589 unvested RSUs and 3,750 unvested restricted shares.
• The transaction code was “F,” indicating tax withholding via share retention by the issuer.

Sentiment

Score: 5

Explanation: Routine administrative insider transaction for tax withholding with no open-market sale; neutral impact.

Positives

• No open-market sale occurred; shares were withheld solely for tax obligations.
• CFO maintains a meaningful direct stake of 16,047 shares, plus unvested awards (9,589 RSUs and 3,750 restricted shares).
• Clear disclosure of equity award vesting and remaining unvested awards.

Negatives

• 1,092 shares were removed from the net shares delivered to the executive due to tax withholding.
• Directly held share count after the transaction reflects the withholding adjustment.

Future Outlook

NA

Management Comments

• Shares were withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of 3,750 restricted shares granted on 11/14/2022; no shares were sold.
• Post-transaction holdings include 9,589 unvested RSUs and 3,750 unvested restricted shares.

Industry Context

Tax-withholding via net share settlement at vesting is routine among HCM and enterprise software peers and typically does not signal management sentiment.

Comparison to Industry Standards

• The use of transaction code “F” (share withholding for taxes) aligns with common practice among HCM/software peers such as ADP, Paychex, Paylocity, and Workday.
• Disclosure of remaining unvested awards and indirect holdings is consistent with standard SEC Form 4 reporting expectations across the sector.

Stakeholder Impact

• No open-market sale suggests minimal immediate market impact.
• Increases transparency on insider equity holdings and vesting activity.

Key Dates

Keywords

Paycom, PAYC, Form 4, insider transaction, restricted stock, RSU, tax withholding, beneficial ownership, human capital management, software