Form 4: Paymentus Director Acquires 13,285 Class B Shares

Paymentus Holdings, Inc. Director Adam Malinowski acquired 13,285 shares of Class B Common Stock through an exempt pro rata distribution from Accel-KKR.

Summary

• Adam Malinowski, a Director and 10% Owner of Paymentus Holdings, Inc. (PAY), acquired 13,285 shares of Class B Common Stock.
• The acquisition occurred on November 17, 2025, and represents a direct ownership.
• These shares were received as part of a pro rata distribution from funds affiliated with Accel-KKR.
• The transaction was exempt from Section 16(b) short-swing profit rules under Rule 16a-9(a) of the Securities Exchange Act of 1934.
• Following this transaction, Malinowski directly beneficially owns 188,270 derivative securities (Class B Common Stock).
• Each Class B Common Stock share is convertible into one Class A Common Stock share at any time, with no expiration date.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director and 10% owner, even through an exempt distribution, generally signals continued alignment with the company's long-term prospects. It's a neutral to slightly positive event as it increases insider holdings.

Positives

• Increased direct beneficial ownership by a Director and 10% Owner, Adam Malinowski, indicating continued alignment with shareholder interests.
• The acquisition was part of an exempt pro rata distribution, suggesting a structured, non-market transaction.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing, which focuses solely on an insider transaction.

Industry Context

This insider transaction reflects a routine change in beneficial ownership for a director of Paymentus Holdings, Inc., a company operating in the electronic bill payment and presentment industry. Such distributions are common for private equity-backed companies as they mature or as funds distribute assets to their limited partners.

Related Party Transactions

• Adam Malinowski received 13,285 shares of Class B Common Stock in a pro rata distribution from funds affiliated with Accel-KKR. Given Malinowski's address is C/O Accel-KKR and his 10% owner status, this is a related party transaction.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively as it aligns management/director interests with shareholders.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific insider transaction.

Key Dates

Recommendation

This Form 4 filing reports an exempt acquisition of shares by a director through a pro rata distribution from an affiliated fund. While an increase in insider ownership is generally a positive signal of confidence, this specific transaction is not a market purchase and does not provide new fundamental information about the company's performance or future prospects. Therefore, it does not warrant a change in investment recommendation based solely on this filing.

Keywords

Paymentus Holdings, PAY, Adam Malinowski, Insider Trading, Form 4, Beneficial Ownership, Class B Common Stock, Class A Common Stock, Accel-KKR, Director, 10% Owner, Equity Acquisition