Form 4: Paylocity Director Steven I. Sarowitz Executes Stock Sale Under 10b5-1 Plan
SEC Form 4
Director Steven I. Sarowitz sold 11,108 shares of Paylocity Holding Corp under a pre-arranged 10b5-1 trading plan.
Summary
- On May 14, 2025, Steven I. Sarowitz, a director of Paylocity Holding Corp, sold 11,108 shares of common stock.
- The sale was executed under a pre-arranged 10b5-1 trading plan adopted on December 17, 2024.
- The shares were sold at a weighted average price of $200.32, with individual transaction prices ranging from $200.00 to $200.96.
- Following the transaction, Sarowitz directly owns 8,330,335 shares and indirectly owns 390,892 shares through the Jessica P. Sarowitz Declaration of Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a transaction under a pre-existing 10b5-1 plan, which is a common and legal practice.
Industry Context
Sales by insiders are a normal part of corporate activity. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder confidence, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 12/17/2024 | Date of adoption of the 10b5-1 Plan |
| 05/14/2025 | Date of the stock sale transaction |
| 05/16/2025 | Date of signature for the Form 4 filing |
Keywords
Paylocity Holding Corp, Steven I. Sarowitz, Form 4, 10b5-1 Plan, Stock Sale, Director, PCTY
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