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

Director Steven I. Sarowitz sold a total of 15,444 shares of Paylocity Holding Corp. common stock on November 20, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp., sold 15,444 shares of common stock on November 20, 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 weighted average prices ranging from $194.15 to $196.81.
• Following these transactions, Sarowitz directly owns 9,272,906 shares and indirectly owns 20,000 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing insider stock sales under a pre-arranged plan. It doesn't indicate any positive or negative sentiment, but is a neutral event.

Risks

• Large sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.

Industry Context

This is a routine filing related to insider trading activity and is common for publicly traded companies. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of insider trading.
• The reported transactions are typical for a director and large shareholder of a public company.
• Similar filings are regularly made by insiders at comparable companies such as Workday and ADP.

Stakeholder Impact

• The stock sales may have a minor impact on the stock price, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

Paylocity, insider trading, Form 4, stock sale, 10b5-1 plan, Steven I. Sarowitz, PCTY