Joshua Scutt - Aug 15, 2024 Form 4 Insider Report for Paylocity Holding Corp (PCTY)

Role
Senior Vice President Sales
Signature
/s/ Kris Kang, attorney-in-fact to Joshua Scutt
Stock symbol
PCTY
Transactions as of
Aug 15, 2024
Transactions value $
-$93,432
Form type
4
Date filed
8/19/2024, 04:07 PM
Previous filing
Aug 16, 2024
Next filing
Aug 20, 2024

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 +16.6K +57.93% $0.00 45.3K Aug 15, 2024 Direct F1
transaction PCTY Common Stock, par value $0.001 Tax liability -$93.4K -617 -1.36% $151.43 44.7K Aug 15, 2024 Direct

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 +2.38K $0.00 2.38K Aug 15, 2024 Common Stock, par value $0.001 2.38K $0.00 Direct F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 over four years beginning on the date of grant at a rate of 6.25% vesting every three months. The grant will be settled pursuant to the terms of the Issuer's 2023 Equity Incentive Plan.
F2 Each market stock unit (MSU) represents the contingent right to receive one (1) share of Issuer common stock.
F3 Reflects the grant of a target number MSUs subject to the award as presented in the table. The number of MSUs that ultimately vest may be 0%-200% of this number, depending upon the achievement by the Issuer of certain total shareholder return objectives.
F4 The MSUs have four separate performance periods, which begin August 31, 2024 and end November 30, 2026, February 28, 2027, May 31, 2027 and August 31, 2027, respectively. Twenty five percent (25%) of the total award may be earned after the end of each performance period and, to the extent earned, will vest quarterly.
F5 Market stock units do not expire; they either vest or are canceled prior to or upon the vesting date.