Steven I. Sarowitz - May 23, 2023 Form 4 Insider Report for Paylocity Holding Corp (PCTY)

Role
Director, 10%+ Owner
Signature
/s/ Kris Kang, attorney-in-fact to Steven I. Sarowitz
Stock symbol
PCTY
Transactions as of
May 23, 2023
Transactions value $
-$13,066,502
Form type
4
Date filed
5/25/2023, 04:05 PM
Previous filing
May 17, 2023
Next filing
Jun 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PCTY Common Stock, par value $0.001 Sale -$1.5M -8.65K -0.08% $173.28 10.2M May 23, 2023 Direct F1, F2
transaction PCTY Common Stock, par value $0.001 Sale -$7.2M -41.4K -0.4% $174.06 10.2M May 23, 2023 Direct F1, F3
transaction PCTY Common Stock, par value $0.001 Sale -$4.37M -25K -0.25% $174.81 10.2M May 23, 2023 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transaction indicated was conducted under an approved 10b5-1 Plan adopted by the reporting person on December 13, 2022.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $172.50 to $173.49, inclusive. The reporting person undertakes to provide to Paylocity Holding Corporation, any security holder of Paylocity Holding Corporation, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes 2, 3 and 4 of this Form 4.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $173.51 to $174.51, inclusive.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $174.52 to $175.19, inclusive.