Form 4: Paylocity Holding Corp Executive Rachit Lohani Reports Stock Sale
SEC Form 4 Filing
Rachit Lohani, Chief Technology Officer of Paylocity Holding Corp, reports selling 117 shares of common stock at $171.62 per share.
Summary
- On May 16, 2024, Rachit Lohani, the Chief Technology Officer of Paylocity Holding Corp, sold 117 shares of common stock at a price of $171.62 per share.
- The sale was executed under a pre-arranged 10b5-1 trading plan adopted on September 5, 2023.
- Following the transaction, Lohani directly owns 44,248 shares of Paylocity Holding Corporation's common stock, which includes 83 shares acquired through the Employee Stock Purchase Plan on May 15, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an executive's stock sale under a pre-arranged plan, indicating a neutral sentiment.
Industry Context
Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan suggests the sale was pre-planned to avoid any concerns about insider trading.
Stakeholder Impact
- The stock sale by an executive could be perceived neutrally or slightly negatively by shareholders, depending on the context and the size of the sale relative to the executive's holdings.
Key Dates
| Date | Description |
|---|---|
| 09/05/2023 | Date the reporting person adopted the 10b5-1 Plan |
| 05/15/2024 | Date of Paylocity Holding Corporation's Employee Stock Purchase Plan ('ESPP') |
| 05/16/2024 | Date of the transaction (stock sale) |
| 05/20/2024 | Date of signature for the Form 4 filing |
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