Form 4: Paylocity Holding Corp: Steven I. Sarowitz Reports Stock Sales Under 10b5-1 Plan

Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, reported the sale of shares on November 1, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On November 1, 2024, Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold shares of common stock.
• The sales were executed under a 10b5-1 plan adopted on September 15, 2023.
• A total of 24,924 shares were sold at weighted average prices ranging from $185.68 to $191.81.
• Following the reported transactions, Sarowitz directly owns 9,488,736 shares of Paylocity Holding Corp.
• Additionally, Sarowitz indirectly owns 20,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by an insider under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for corporate insiders to utilize 10b5-1 plans to sell shares over time to avoid accusations of trading on material non-public information.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates