Form 4: Paylocity Director Linda M. Breard Receives Stock Grant
SEC Form 4
Director Linda M. Breard received 1,338 shares of Paylocity Holding Corp stock on August 15, 2024, as part of a restricted stock unit (RSU) grant.
Summary
- On August 15, 2024, Linda M. Breard, a director of Paylocity Holding Corp, was granted 1,338 shares of common stock as restricted stock units (RSUs).
- These RSUs will vest quarterly, with complete vesting occurring on the first anniversary of the grant date.
- The grant was settled according to the terms of Paylocity's 2023 Equity Incentive Plan.
- Following the transaction, Breard directly owns 2,265 shares of Paylocity common stock.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating confidence in the company's future. The sentiment is neutral to positive.
Positives
- The grant of RSUs aligns the director's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the director.
Future Outlook
The document does not contain specific forward-looking statements, but the RSU grant suggests a continued investment in the company's leadership.
Industry Context
Stock grants to directors are a common practice in publicly traded companies to incentivize performance and align interests with shareholders. This is a standard form 4 filing related to that practice.
Comparison to Industry Standards
- Equity compensation for board members is a common practice across the technology industry.
- Companies like Workday, ADP, and Oracle also utilize stock options and restricted stock units to incentivize their directors.
- The size and vesting schedule of the RSU grant are likely benchmarked against industry peers to ensure competitiveness and alignment with company goals.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term success.
- Employees may see the grant as a sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of the transaction: Linda M. Breard acquired 1,338 shares of Paylocity Holding Corp stock. |
| 08/19/2024 | Date of signature on the SEC Form 4 filing. |
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