Form 4: Paylocity Holding Corp Director Sells Shares Under 10b5-1 Plan

Director Steven I. Sarowitz sold 400 shares of Paylocity Holding Corp stock on December 27, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold a total of 400 shares of common stock on December 27, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• 300 shares were sold at a weighted average price of $200.29, and 100 shares were sold at $201.34.
• Following these transactions, Sarowitz directly owns 8,334,947 shares and indirectly owns 520,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction under a pre-arranged plan, with no indication of positive or negative sentiment. It's a neutral event.

Industry Context

This is a routine filing for insider transactions and is common for executives and directors of 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 standard practice for corporate insiders to avoid accusations of insider trading, similar to practices at companies like Workday and ADP.
• The volume of shares sold is relatively small compared to the total holdings of Sarowitz, which is common for planned sales under 10b5-1 plans.
• The price range of the sales is consistent with the market price of Paylocity stock at the time of the transaction.

Stakeholder Impact

• The share sale is unlikely to have a significant impact on shareholders, as it is a small portion of the director's holdings and was executed under a pre-arranged plan.

Key Dates

Keywords

Paylocity Holding Corp, Steven I. Sarowitz, 10b5-1 plan, insider trading, share sale, director, equity