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

Director Steven I. Sarowitz of Paylocity Holding Corp sold a total of 18,526 shares of common stock on November 21, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold 18,526 shares of common stock on November 21, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• The shares were sold in multiple transactions at varying weighted average prices ranging from $196.33 to $201.74.
• Following these transactions, Sarowitz directly owns 9,254,380 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 is a routine regulatory filing related to insider trading. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine Form 4 filing related to insider trading activity. It is common for executives and directors to use 10b5-1 plans to sell shares over time to avoid accusations of insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
• The use of a 10b5-1 trading plan is a common method for insiders to sell shares without raising concerns about insider trading, and many directors and executives at comparable companies use similar plans.

Stakeholder Impact

• The share sales by a major shareholder could have a minor negative impact on investor sentiment, but the sales were pre-planned and not unexpected.

Key Dates

Keywords

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