Form 4: Paylocity Executive Chairman Steven Beauchamp Reports Stock Transactions

Paylocity's Executive Chairman, Steven Beauchamp, reported the disposition of 1,632 shares of common stock to cover tax obligations, while also disclosing indirect holdings through family trusts and foundations.

Summary

• Steven Beauchamp, the Executive Chairman of Paylocity Holding Corp, filed a Form 4 disclosing recent transactions in the company's stock.
• On November 15, 2024, Beauchamp disposed of 1,632 shares of common stock at a price of $205.50 per share.
• This disposition was to cover tax obligations related to vesting of stock.
• Beauchamp also reported indirect ownership of 220,000 shares through the IRIE Family Trust and 22,500 shares through the IRIE Foundation.
• The total direct holdings after the transaction are 1,770,217 shares.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a stock transaction by an executive. It does not indicate any positive or negative sentiment about the company's performance or future prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing is typical for executives who receive stock-based compensation.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, and Paylocity's filing is consistent with these requirements.
• Other companies such as Workday (WDAY) and Automatic Data Processing (ADP) also have similar filings when their executives trade company stock.
• The transaction is not unusual for executives who receive stock as part of their compensation and need to cover tax obligations.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale of shares by an executive.
• The filing provides transparency to the market regarding insider transactions.

Key Dates

Keywords

Paylocity, PCTY, Steven Beauchamp, Form 4, stock transaction, executive chairman, beneficial ownership, insider trading, tax obligations