Form 4: Paylocity CFO Ryan Glenn Sells 1,400 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Ryan Glenn, CFO and Treasurer of Paylocity Holding Corp, sold 1,400 shares of common stock at a price of $140.06 per share on July 15, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On July 15, 2024, Ryan Glenn, the CFO and Treasurer of Paylocity Holding Corp, sold 1,400 shares of the company's common stock.
- The sale was executed at a price of $140.06 per share.
- Following the transaction, Glenn directly owns 31,074 shares of Paylocity.
- The sale was conducted under a pre-approved 10b5-1 trading plan adopted on September 14, 2023.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports a routine transaction under a pre-existing trading plan. There is no indication of positive or negative implications for the company.
Industry Context
Sales by insiders are a normal part of corporate activity. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific inside information.
Stakeholder Impact
- The sale of shares by a company executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 09/14/2023 | Date the reporting person adopted the 10b5-1 Plan |
| 07/15/2024 | Date of the transaction (sale of shares) |
| 07/17/2024 | Date of the signature on the Form 4 filing |
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