Form 4: Paymentus Holdings: Robert 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 an in-kind pro rata distribution.

Summary

• On March 14, 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.
• The changes are due to an in-kind pro rata distribution from a holding entity to its partners, without consideration.
• Palumbo indirectly owns 70,435,602 shares of Class A Common Stock through Accel-KKR Capital Partners CV III, LP.
• He also indirectly owns 5,523,954 shares of Class A Common Stock through Accel-KKR Members Fund, LLC.
• Additionally, Palumbo indirectly owns 3,025,270 shares through Accel-KKR Growth Capital Partners III, LP, 101,395 shares through Accel-KKR Growth Capital Partners II Strategic Fund, LP, and 1,195,150 shares through Accel-KKR Growth Capital Partners II, LP.
• Palumbo directly owns 178,855 shares of Class B Common Stock, including 129,292 shares received in distributions.
• Accel-KKR Holdings GP, LLC, controlled by Mr. Palumbo and Mr. Barnds, has voting and investment power over the shares owned by various Accel-KKR entities.
• Class B Common Stock is convertible into Class A Common Stock at any time at the holder's election.

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.

Key Dates