Form 4: Paylocity Holding Corp Director Steven I. Sarowitz Reports Stock Sales Under 10b5-1 Plan

Director Steven I. Sarowitz of Paylocity Holding Corp. reported the sale of common stock totaling 24,783 shares on October 31, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On October 31, 2024, Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp., sold 24,783 shares of common stock.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• The transactions were conducted in multiple sales at weighted average prices ranging from $185.29 to $191.72 per share.
• Following these transactions, Sarowitz directly owns 9,513,560 shares of Paylocity Holding Corp.
• Sarowitz also indirectly owns 20,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about stock transactions.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The stock sales by a director could be perceived negatively by some shareholders, potentially leading to slight downward pressure on the stock price in the short term.

Key Dates