Form 4: Paylocity Holding Corp Director Steven I. Sarowitz Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
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 March 20 and 21, 2025.
- The sales were executed under a pre-arranged 10b5-1 trading plan adopted on December 17, 2024.
- On March 20, 2025, 14,861 shares were sold at a weighted average price of $190.76, and 8,382 shares were sold at a weighted average price of $191.42.
- On March 21, 2025, 10,000 shares were sold at a weighted average price of $190.44, 13,830 shares were sold at a weighted average price of $191.79, and 370 shares were sold at a weighted average price of $192.16.
- Following these transactions, Steven I. Sarowitz directly owns 8,330,335 shares and indirectly owns 446,252 shares through the Jessica P. Sarowitz Declaration of Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing plan. There's no inherent positive or negative signal.
Risks
- Sales by insiders, even under 10b5-1 plans, can sometimes be perceived negatively by the market.
Future Outlook
The sales will continue under the existing 10b5-1 plan.
Industry Context
Insider sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less impactful since they are pre-arranged. It's important to monitor overall insider sentiment and compare it to peers in the software and payroll processing industry.
Comparison to Industry Standards
- Comparing Sarowitz's transactions to those of other directors or major shareholders in similar companies like ADP or Workday could provide context.
- Analyzing the percentage of shares sold relative to total holdings is important to gauge the significance of these transactions.
- Reviewing the trading activity of other insiders at Paylocity can offer a broader perspective on management's view of the company's prospects.
Stakeholder Impact
- The share sales could have a minor impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 2024-12-17 | Date the reporting person adopted the 10b5-1 Plan |
| 2025-03-20 | Date of first reported transaction (share sale) |
| 2025-03-21 | Date of second reported transaction (share sale) |
| 2025-03-24 | Date of filing |
Keywords
Paylocity Holding Corp, PCTY, Steven I. Sarowitz, Form 4, Insider Trading, 10b5-1 Plan, Share Sale, Director
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