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

Director and 10% owner Steven Sarowitz sold Paylocity Holding Corp shares on December 18, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold shares of common stock on December 18, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• A total of 4,715 shares were sold in multiple transactions at varying prices.
• The prices ranged from $200.02 to $205.17 per share.
• Following the transactions, Sarowitz directly owns 8,339,830 shares of Paylocity Holding Corp.
• Sarowitz also indirectly owns 520,000 shares through the Jessica P. Sarowitz Declaration of Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing plan. It doesn't inherently indicate positive or negative sentiment towards the company's prospects.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned, especially when executed under a 10b5-1 plan. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

• The sale of shares by a significant shareholder could have a minor negative impact on investor sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates