Form 4: Accel-KKR's Thomas Barnds Reports Changes in Beneficial Ownership of Paymentus Holdings

Thomas Barnds, affiliated with Accel-KKR, reports changes in beneficial ownership of Paymentus Holdings, Inc. stock due to pro rata distributions and conversions.

Summary

• Thomas Barnds, associated with Accel-KKR, filed a Form 4 detailing changes in his beneficial ownership of Paymentus Holdings, Inc. (PAY) stock on August 22, 2024.
• The reported transactions include the conversion of Class B Common Stock into Class A Common Stock and in-kind pro rata distributions from holding entities to their partners.
• Barnds indirectly owns a significant number of shares through various Accel-KKR funds, including Accel-KKR Capital Partners CV III, LP, Accel-KKR Growth Capital Partners III, LP, and others.
• Following the reported transactions, Barnds directly owns 43 shares of Class B Common Stock and indirectly owns millions of shares through associated entities.
• The filing clarifies the relationships between the various Accel-KKR entities and their control over the shares.
• 235,705 shares of Class B Common Stock were received in distributions.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of Paymentus Holdings, Inc.

Key Dates