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

Paylocity Holding Corp director Steven I. Sarowitz sold a total of 16,340 shares of common stock on November 15, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold 16,340 shares of common stock on November 15, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• The transactions occurred at various weighted average prices ranging from $197.77 to $204.85 per share.
• Following these transactions, Sarowitz directly owns 9,313,073 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 reflects a routine insider transaction under a pre-arranged plan, which is neither particularly positive nor negative. It's a neutral event from an investment perspective.

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. The use of 10b5-1 plans is a common way for insiders to sell shares while avoiding accusations of trading on non-public information.

Comparison to Industry Standards

• The use of 10b5-1 plans is a standard practice for corporate insiders to manage their stock holdings and avoid potential conflicts of interest.
• The reported sales are within the typical range of insider transactions for a company of Paylocity's size and market capitalization.
• Comparable companies often see similar filings from their directors and officers.

Stakeholder Impact

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

Key Dates

Keywords

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