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 2,900 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 2,900 shares of common stock on December 2, 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 $206.96, $208.09, and $209.27.
• Following these transactions, Sarowitz directly owns 8,945,315 shares and indirectly owns 20,000 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding insider trading under a pre-arranged plan, which is neither positive nor negative in itself.

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 publicly traded companies. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any non-public information.

Comparison to Industry Standards

• Sales by insiders are a common occurrence in publicly traded companies, and the use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.
• Comparable companies will also have similar filings when insiders sell shares.

Stakeholder Impact

• The stock sales by a major shareholder could have a minor impact on investor sentiment.

Key Dates

Keywords

Paylocity Holding Corp, insider trading, Form 4, 10b5-1 plan, stock sale, Steven I. Sarowitz, PCTY