Form 4: Paymentus Holdings Director Palumbo Reports Changes in Beneficial Ownership

Robert Palumbo, a director and 10% owner of Paymentus Holdings, reported changes in beneficial ownership of Class A and Class B common stock due to a pro rata distribution from affiliated funds.

Summary

• On August 22, 2024, Robert Palumbo, a director and 10% owner of Paymentus Holdings, Inc., filed a Form 4 with the SEC.
• The filing reports changes in beneficial ownership of Paymentus Holdings' Class A and Class B common stock.
• These changes are primarily due to a pro rata distribution of shares from funds affiliated with Accel-KKR.
• Palumbo indirectly owns shares through various Accel-KKR entities, including Accel-KKR Capital Partners CV III, LP, Accel-KKR Growth Capital Partners III, LP, and others.
• The reported transactions include the acquisition of 155,574 shares of Class A Common Stock at $0.00 and the distribution of 1,700,099 shares of Class B Common Stock.
• Following these transactions, Palumbo's indirectly held shares include 2,401,460 shares of Class A Common Stock through Accel-KKR Capital Partners CV III, LP and other entities.
• Palumbo also directly owns 432,561 shares of Class B Common Stock, including 253,706 shares received in distributions.

Sentiment

Score: 5

Explanation: The document 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, providing transparency to investors.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in the US.
• The level of detail provided in this filing is consistent with typical Form 4 disclosures.
• Similar filings are made by insiders of comparable companies to disclose changes in their holdings.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• It informs stakeholders about the holdings of key individuals and entities associated with Paymentus Holdings.

Key Dates