Form 4: Paylocity Holding Corp Executive Chairman Steven Beauchamp Reports Stock Sales and Transfers

Steven Beauchamp, Executive Chairman of Paylocity Holding Corp, reported multiple sales of common stock and transfers to trusts, according to a Form 4 filing with the SEC.

Summary

• Steven Beauchamp, the Executive Chairman of Paylocity Holding Corp, filed a Form 4 with the SEC detailing changes in his beneficial ownership of the company's stock.
• On February 14, 2025, Beauchamp sold multiple blocks of Paylocity common stock at prices ranging from $214.38 to $218.79 per share, totaling 33,532 shares.
• These sales were executed under a pre-arranged 10b5-1 trading plan adopted on November 15, 2024.
• On February 17, 2025, 1,666 shares were disposed of.
• On February 18, 2025, Beauchamp transferred 15,000 shares as a gift to the IRIE Family Trust and another 15,000 shares were transferred.
• Beauchamp also reported sales of shares held by the IRIE Foundation between February 14 and February 18, 2025.
• Following these transactions, Beauchamp directly owns 1,554,413 shares of Paylocity common stock.
• He also indirectly owns 235,000 shares through the IRIE Family Trust, 100,000 shares through the Steven Beauchamp 2025 GRAT, and 69,138 shares through Gotham Triple Advantage Strategy LP.
• The filing was signed by Kris Kang, attorney-in-fact for Steven R. Beauchamp, on February 19, 2025.

Sentiment

Score: 5

Explanation: The document primarily reports stock sales and transfers, which are neutral events. The existence of a 10b5-1 plan suggests pre-planned transactions, reducing the potential for negative sentiment.

Risks

• Executive stock sales can sometimes be perceived negatively by investors, potentially leading to short-term price volatility.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on recent market events.

Comparison to Industry Standards

• Executive stock sales are a normal part of corporate governance.
• Comparable companies such as Workday (WDAY) and Automatic Data Processing (ADP) also see regular Form 4 filings from their executives.
• The size and frequency of these transactions are typical for executives holding significant equity positions.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to potential short-term price fluctuations.
• The transfers to trusts may benefit the reporting person's family.

Key Dates