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 15,293 shares of common stock on December 10, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold shares of common stock on December 10, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• A total of 15,293 shares were sold in multiple transactions at varying weighted average prices.
• The sales occurred at prices ranging from $201.69 to $205.32 per share.
• The total number of shares owned directly by Sarowitz after the transactions is 8,399,643.
• Sarowitz also indirectly owns 520,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document reflects a routine insider transaction under a pre-arranged plan, which is neither positive nor negative for the company's outlook. It is a neutral event.

Risks

• Sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.

Industry Context

This is a routine filing related to insider trading activity and is common for directors and officers 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 illegal insider trading.
• The volume of shares sold is relatively small compared to the total outstanding shares of Paylocity, suggesting it is not a major market event.
• Similar filings are common across all publicly traded companies, with the frequency and volume varying based on individual circumstances and company policies.

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 negative reaction from shareholders.

Key Dates

Keywords

Paylocity, PCTY, Steven I. Sarowitz, insider trading, 10b5-1 plan, share sale, director, stock transaction