Form 4: Paylocity SVP Scutt reports tax share withholding

Paylocity Senior VP of Sales Joshua Scutt withheld 1,560 shares at $148.05 for taxes and now holds 51,264 shares directly, plus 118 shares indirectly.

Summary

• Senior Vice President of Sales Joshua Scutt reported an automatic share withholding (Code F) of 1,560 Paylocity common shares on 2025-11-17 to satisfy tax obligations.
• The transaction price used for withholding was $148.05 per share.
• Post-transaction direct holdings total 51,264 common shares.
• Indirect beneficial ownership of 118 shares is reported as owned by the reporting person's father-in-law, with investment power via the spouse’s power of attorney.
• No derivative securities transactions were reported.
• No operational, financial results, guidance, or strategic updates are included; this is an insider ownership change disclosure.

Sentiment

Score: 5

Explanation: Routine insider tax withholding with no strategic or financial implications; neutral impact.

Positives

• Insider retains a substantial direct position of 51,264 shares after the tax withholding.
• Transaction coded 'F' indicates routine tax withholding related to equity compensation rather than an open-market discretionary sale.

Negatives

• A total of 1,560 shares were disposed of to cover taxes, modestly reducing direct share count.

Future Outlook

No forward-looking statements or guidance disclosed.

Industry Context

Equity compensation-related tax withholdings by executives are routine across SaaS and HCM peers and generally not indicative of management’s view on fundamentals.

Comparison to Industry Standards

• Transactions coded 'F' for tax withholding are standard practice across SaaS/HCM peers such as Paycom, Workday, and Paychex and typically carry low informational content for future performance.
• Insider retention of a sizable share balance post-withholding aligns with common executive compensation and holding patterns in the sector.

Related Party Transactions

• Indirect beneficial ownership of 118 shares attributed to the reporting person via father-in-law’s holdings, with investment power through spouse’s power of attorney.

Stakeholder Impact

• Minimal impact for shareholders; the transaction appears administrative and tax-related.
• No implications for employees, customers, suppliers, or creditors indicated.

Key Dates

Keywords

Paylocity, PCTY, Form 4, insider transaction, tax withholding, beneficial ownership, RSU, equity compensation, senior vice president, SaaS payroll, human capital management, insider ownership