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 7,998 shares of common stock on November 14, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold 7,998 shares of common stock on November 14, 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 $205.68 to $211.35 per share.
• Following these transactions, Sarowitz directly owns 9,329,453 shares and indirectly owns 20,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding insider stock sales under a pre-arranged plan, which is neither positive nor negative in itself.

Risks

• 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 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 illegal insider trading.
• Similar filings are regularly made by directors and officers of publicly traded companies like Workday, ADP, and Oracle, when they sell shares.

Stakeholder Impact

• The stock sales may have a minor impact on the stock price, but the pre-planned nature of the sales under a 10b5-1 plan 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