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 13,212 shares of common stock on November 12, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director at Paylocity Holding Corp, sold 13,212 shares of common stock on November 12, 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 $211.51, $212.64, and $213.12.
• Following these transactions, Sarowitz directly owns 9,349,785 shares and indirectly owns 20,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for insider transactions, which is neither positive nor negative. The sales were pre-planned under a 10b5-1 plan, so there is no indication of any change in sentiment.

Industry Context

This is a routine filing for insider transactions and is common for executives and directors of publicly traded companies. The use of a 10b5-1 plan indicates a pre-planned strategy for selling shares.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of trading on non-public information.
• The reported transactions are typical for Form 4 filings, which are required when insiders buy or sell company stock.
• The volume of shares sold is relatively small compared to the total shares owned by Sarowitz, suggesting a routine sale rather than a significant divestment.

Stakeholder Impact

• The share sales by a director may have a minor impact on investor sentiment, but the pre-planned nature of the transactions mitigates any significant concern.

Key Dates

Keywords

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