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

Director Steven I. Sarowitz of Paylocity Holding Corp sold shares of common stock on November 7th and 8th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director of Paylocity Holding Corp, sold shares of the company's common stock on November 7th and 8th, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• On November 7th, Sarowitz sold a total of 25,862 shares at weighted average prices ranging from $208.51 to $213.09.
• On November 8th, Sarowitz sold a total of 14,487 shares at weighted average prices ranging from $208.01 to $211.71.
• Following these transactions, Sarowitz directly owns 9,378,476 shares of Paylocity Holding Corp.
• Sarowitz also indirectly owns 20,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned, especially when executed under a 10b5-1 plan. These plans allow insiders to sell shares over a period of time without being accused of trading on inside information.

Stakeholder Impact

• The share sales could exert downward pressure on the stock price in the short term.
• The sales may be perceived negatively by some investors, potentially impacting investor confidence.

Key Dates