Steven R. Beauchamp - Aug 16, 2021 Form 4 Insider Report for Paylocity Holding Corp (PCTY)

Role
Chief Executive Officer, Director
Signature
/s/ Kris Kang, attorney-in-fact to Steven R. Beauchamp
Stock symbol
PCTY
Transactions as of
Aug 16, 2021
Transactions value $
-$6,499,535
Form type
4
Date filed
8/18/2021, 04:12 PM
Previous filing
Aug 16, 2021
Next filing
Sep 16, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PCTY Common Stock, par value $0.001 Award $0 +48.9K +2.81% $0.00 1.79M Aug 16, 2021 Direct F1
transaction PCTY Common Stock, par value $0.001 Award $0 +28.4K +1.59% $0.00 1.82M Aug 16, 2021 Direct F2
transaction PCTY Common Stock, par value $0.001 Tax liability -$6.5M -25.9K -1.43% $250.57 1.79M Aug 16, 2021 Direct
holding PCTY Common Stock, par value $0.001 220K Aug 16, 2021 by IRIE Family Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PCTY Market Stock Units Award $0 +18.9K $0.00 18.9K Aug 16, 2021 Common Stock, par value $0.001 18.9K $0.00 Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents performance-based restricted stock units (PRSUs) awarded pursuant to the Issuer's 2014 Equity Incentive Plan for which performance criteria have been satisfied that will entitle the Reporting Person to receive one share of the Issuer's common stock per PRSU upon vesting. The PRSUs vest on August 15, 2022, subject to continued service through the vesting date. The grant will be settled pursuant to the terms of the Issuer's 2014 Equity Incentive Plan.
F2 Reflects the grant of restricted stock units (RSUs) that will entitle Reporting Person to receive one (1) share of Common Stock per RSU. The RSUs will vest annually in four equal installments beginning on August 16, 2022. The grant will be settled pursuant to the terms of the Issuer's 2014 Equity Incentive Plan.
F3 Reflects the grant of a target number of market stock units (MSUs) subject to the award as presented in the table which will entitle Reporting Person to receive one (1) share of Common Stock per MSU. The number of MSUs that vest may be 0%-200% of this number ("awarded units"), depending upon performance. Following the achievement by the Issuer of certain total shareholder return objectives, the awarded units will vest on September 1, 2024. The grant will be settled pursuant to the terms of the Issuer's 2014 Equity Incentive Plan.
F4 Represents the vesting and release date for these awards.
F5 Restricted stock units do not expire; they either vest or are canceled prior to or upon the vesting date.