Form 4: Paylocity Holding Corp Director Steven I. Sarowitz Executes Stock Sales Under 10b5-1 Plan
SEC Form 4
Director Steven I. Sarowitz sold shares of Paylocity Holding Corp under a pre-arranged 10b5-1 trading plan.
Summary
- Steven I. Sarowitz, a director of Paylocity Holding Corp, reported the sale of common stock on May 20, 2025, and May 21, 2025.
- The sales were executed under a pre-arranged 10b5-1 trading plan adopted on December 17, 2024.
- On May 20, 2025, 13,519 shares were sold at a weighted average price of $200.44, with prices ranging from $200.00 to $200.87.
- On May 21, 2025, 604 shares were sold at a weighted average price of $200.03, with prices ranging from $200.00 to $200.50.
- Following these transactions, Steven I. Sarowitz directly owns 8,330,335 shares and indirectly owns 251,068 shares through the Jessica P. Sarowitz Declaration of Trust.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to stock sales under a pre-arranged plan, indicating a neutral sentiment.
Industry Context
Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 2024-12-17 | Date of adoption of the 10b5-1 Plan |
| 2025-05-20 | Date of first stock sale |
| 2025-05-21 | Date of second stock sale |
| 2025-05-22 | Date of signature on the Form 4 filing |
Keywords
Paylocity Holding Corp, Steven I. Sarowitz, Form 4, Stock Sale, 10b5-1 Plan, Director, PCTY
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