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

Steven Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold shares of common stock on November 5, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I Sarowitz, a director and 10% owner of Paylocity Holding Corp, reported the sale of common stock on November 5, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• A total of 15,008 shares were sold in multiple transactions at varying weighted average prices.
• The prices ranged from $191.85 to $197.08 per share.
• Following the reported transactions, Sarowitz directly owns 9,453,464 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 sentiment is neutral as the transactions were pre-planned under a 10b5-1 plan and do not necessarily indicate a change in the insider's view of the company's prospects.

Future Outlook

The sales will continue under the existing 10b5-1 plan.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan allows insiders to sell shares over a period of time without being accused of trading on non-public information. The market will likely interpret this as a neutral event, given the pre-planned nature of the sales.

Stakeholder Impact

• The sale of shares by a director and 10% owner could have a slight negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is expected to be minimal.

Key Dates