Form 4: Repay Holdings CFO Timothy Murphy Sells Shares Under 10b5-1 Plan

Repay Holdings CFO Timothy Murphy sold shares of Class A Common Stock between March 1 and March 5, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Timothy Murphy, the Chief Financial Officer of Repay Holdings Corporation, reported the sale of Class A Common Stock.
• The transactions occurred between March 1, 2024, and March 5, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 28, 2023.
• On March 1, 2024, Murphy sold 4,925 shares at $10 each and 43,520 shares at a weighted average price of $9.91, with prices ranging from $9.49 to $10.29.
• On March 4, 2024, he sold 5,624 shares at a weighted average price of $10.03, with prices ranging from $10.00 to $10.09, and 8 shares at $10.06.
• On March 5, 2024, Murphy sold 11,080 shares at a weighted average price of $10.00, with prices ranging from $10.00 to $10.05.
• Following these transactions, Murphy directly owns 635,307 shares of Class A Common Stock.
• He also indirectly owns 52,000 shares through a charitable remainder trust and an unspecified amount through a limited liability company.
• Murphy disclaims beneficial ownership of the indirectly owned securities, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged plan. There's no indication of positive or negative implications for the company's performance.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which can mitigate concerns about insider trading.

Risks

• Executive stock sales can sometimes be perceived negatively by investors, potentially impacting the stock price.

Management Comments

• The Reporting Person disclaims beneficial ownership of any securities reported herein as indirectly beneficially owned, except to the extent of his pecuniary interest therein.

Industry Context

Executive stock sales are a common occurrence, and the use of a 10b5-1 plan is a standard practice to avoid insider trading accusations. Investors often monitor these filings to gauge executive sentiment and potential future stock performance.

Comparison to Industry Standards

• It's common for executives to utilize 10b5-1 plans to sell shares over time, similar to practices seen at companies like Visa (V) and Mastercard (MA), where executives regularly execute pre-planned stock sales.
• The volume of shares sold is relatively small compared to the total outstanding shares of Repay Holdings, which is typical for routine executive sales.
• Comparable companies in the payment processing sector, such as Global Payments (GPN) and Fiserv (FISV), also see regular Form 4 filings from their executives.

Stakeholder Impact

• The stock sales could have a minor impact on shareholder sentiment, depending on how investors interpret the transactions.

Key Dates