Form 4: Paymentus Holdings Director Jason Klein Receives Shares in Pro Rata Distribution

Paymentus Holdings director Jason Klein received 297,321 shares of Class B Common Stock, convertible to Class A Common Stock, through a pro rata distribution from Accel-KKR affiliated funds.

Summary

• Jason Klein, a director at Paymentus Holdings, received 297,321 shares of Class B Common Stock on December 5, 2024.
• These shares were obtained through a pro rata distribution from funds affiliated with Accel-KKR.
• The Class B Common Stock is convertible into an equal number of Class A Common Stock at any time.
• The transaction was exempt under Rule 16a-9(a) of the Securities Exchange Act of 1934.
• Following the transaction, Mr. Klein beneficially owns a total of 593,215 shares of Class A Common Stock indirectly through The Jason and Farah Klein Revocable Trust.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, indicating a neutral to slightly positive sentiment due to the continued involvement of Accel-KKR.

Positives

• The pro rata distribution of shares indicates continued support from Accel-KKR.
• The conversion feature of Class B to Class A shares provides flexibility for the holder.

Industry Context

This transaction is a routine disclosure of a change in beneficial ownership by a company director, which is common in the financial industry.

Comparison to Industry Standards

• Similar transactions are regularly reported by directors and officers of publicly traded companies.
• Pro rata distributions are a common method for distributing shares from investment funds to their partners or investors.
• The reporting requirements under Section 16 of the Securities Exchange Act are standard practice for corporate insiders.

Related Party Transactions

• The transaction involves a pro rata distribution from funds affiliated with Accel-KKR, a related party to director Jason Klein.

Stakeholder Impact

• The transaction increases the beneficial ownership of a director, which may be viewed positively by shareholders.
• The pro rata distribution does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Paymentus Holdings, Jason Klein, Class B Common Stock, Class A Common Stock, Accel-KKR, pro rata distribution, beneficial ownership, SEC Form 4, director