Form 4: Paylocity Director Steven I. Sarowitz Sells Shares Under 10b5-1 Plan

Director Steven I. Sarowitz of Paylocity Holding Corp sold a portion of his holdings in common stock under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold shares of common stock on November 11, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• A total of 15,479 shares were sold in multiple transactions at varying weighted average prices.
• The prices ranged from $211.41 to $215.29 per share.
• Following these transactions, Sarowitz directly owns 9,362,997 shares of Paylocity common stock.
• Sarowitz also indirectly owns 20,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document reports a routine insider sale under a pre-arranged plan, which is neither particularly positive nor negative.

Risks

• Sales by insiders, even under pre-arranged plans, can sometimes be perceived negatively by the market.

Industry Context

Insider trading activity is a common occurrence in publicly traded companies, and these transactions are closely monitored by regulators and investors.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a standard practice for corporate insiders to avoid accusations of trading on non-public information.
• The reported transactions are consistent with typical insider sales under such plans.
• Other companies in the software and technology sector also see similar insider trading activity.

Stakeholder Impact

• The share sales may have a minor impact on the stock price, but the pre-arranged nature of the sales should mitigate any significant negative reaction.

Key Dates

Keywords

Paylocity, Sarowitz, insider trading, 10b5-1 plan, share sale, director, equity