Form 4: Paylocity Executive Chairman Steven Beauchamp Reports Stock Transactions
SEC Form 4
Steven Beauchamp, Executive Chairman of Paylocity Holding Corp, reports the acquisition and disposal of common stock and market stock units.
Summary
- On August 15, 2024, Steven Beauchamp, the Executive Chairman of Paylocity Holding Corp, reported transactions involving the company's stock.
- Beauchamp acquired 6,690 shares of common stock at $0 and disposed of 1,446 shares at $151.43.
- Following these transactions, Beauchamp directly owns 1,746,188 shares of Paylocity common stock.
- He also indirectly owns 220,000 shares through the IRIE Family Trust and 22,500 shares through the IRIE Foundation.
- Beauchamp was granted 2,275 market stock units (MSUs) which represent the contingent right to receive one share of Paylocity common stock each.
- These MSUs have performance periods that begin August 31, 2024, and end on various dates through August 31, 2027, with vesting occurring quarterly based on the achievement of total shareholder return objectives.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, reporting stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transactions.
Future Outlook
The market stock units (MSUs) vest based on the achievement of certain total shareholder return objectives over four performance periods, indicating a performance-based incentive structure.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are often monitored by investors to gauge management's confidence in the company's future prospects.
Stakeholder Impact
- The reported transactions may be of interest to shareholders as they provide insight into the actions of a key executive.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of stock transactions and grant of restricted stock units and market stock units. |
| 08/19/2024 | Date of signature on the Form 4 filing. |
| 08/31/2024 | Start date of the first performance period for the market stock units. |
| 11/30/2026 | End date of the first performance period for the market stock units. |
| 02/28/2027 | End date of the second performance period for the market stock units. |
| 05/31/2027 | End date of the third performance period for the market stock units. |
| 08/31/2027 | End date of the fourth performance period for the market stock units. |
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