Paylocity (PCTY) Exec Chair Steven Beauchamp Sells Shares, Receives Awards

What Happened

• Steven R. Beauchamp, Executive Chairman and Director of Paylocity (PCTY), sold 15,000 shares in open-market transactions on August 14, 2026 for total proceeds of about $2,227,851 (avg ≈ $148.52/share). The sales were executed in multiple blocks at prices ranging roughly from $146.74 to $151.34 per share.
• On the same date he was granted awards totaling 26,993 units (RSUs and market/performance stock units) at $0 cost: 10,201 + 6,094 + 7,229 RSUs and 3,469 derivative units (MSUs/PSUs). These are awards, not cash purchases.

Key Details

• Sale date: 2026-08-14; total shares sold: 15,000; total proceeds: ~$2.23M; price range across trades: ~$146.74–$151.34 (see filing footnotes for weighted-average group prices).
• Awards granted on 2026-08-14: 26,993 RSU/MSU units (10,201; 6,094; 7,229; 3,469). The 3,469 units are reported as derivative awards.
• Vesting/terms (selected footnotes): some RSUs vest quarterly over 2 years (12.5% quarterly) or 4 years (6.25% quarterly). MSUs are performance-based (0–200% payout possible), have multiple performance periods, and vest only if performance goals are met. MSUs do not expire prior to vesting.
• Some sales were made pursuant to an approved 10b5-1 trading plan (per filing footnote).
• Filing date: 2026-08-18 reporting transactions dated 2026-08-14. (No indication in the provided excerpt that the filing was delinquent.)

Context

• The awards (RSUs/MSUs) are non-cash compensation that vest over time or upon achieving performance goals; they don’t indicate an immediate cash outlay by the insider. MSUs are contingent on total shareholder return metrics and may pay out between 0%–200% of target.
• The simultaneous sale and receipt of awards is common: awards are granted for retention/compensation, while sales—often tied to a 10b5-1 plan—are routine liquidity actions by insiders. This report is informational; it does not by itself imply a change in company fundamentals.