Form 4: Paylocity Holding Corp Director Steven I. Sarowitz Sells Shares Under 10b5-1 Plan

Director Steven I. Sarowitz of Paylocity Holding Corp sold a total of 13,689 shares of common stock under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold 13,689 shares of common stock on December 11, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• The shares were sold in multiple transactions at weighted average prices of $202.76, $203.61, and $204.46.
• Following these transactions, Sarowitz directly owns 8,385,954 shares and indirectly owns 520,000 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing insider trading activity under a pre-arranged plan. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine filing related to insider trading activity, which is common for directors and major shareholders of publicly traded companies. The use of a 10b5-1 plan indicates a pre-planned and scheduled sale of shares.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of insider trading.
• The reported transactions are typical for directors and major shareholders who may periodically sell shares for personal financial management.
• The volume of shares sold is relatively small compared to the total shares owned by Sarowitz, suggesting a routine transaction rather than a significant divestment.

Stakeholder Impact

• The share sales may have a minor impact on the stock price, but the pre-planned nature of the transactions should mitigate any significant volatility.
• The transactions do not directly impact employees, customers, or suppliers.

Key Dates

Keywords

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