Paylocity (PCTY) SVP Andrew Cappotelli Receives Equity Award

What Happened

• Andrew Cappotelli, Senior Vice President, Operations at Paylocity (PCTY), received equity awards on August 14, 2026 totaling 34,585 units: 22,346 RSUs, 4,695 RSUs, 4,351 PSUs, and 3,193 MSUs. All awards were granted at $0.00 per share (no cash exchanged) and will be settled in shares under the Issuer's Amended and Restated 2023 Equity Incentive Plan.
• These were grants/awards (not open-market purchases or sales), so they represent compensation awards with vesting and performance conditions rather than an immediate market transaction.

Key Details

• Transaction date: August 14, 2026; Filing date: August 18, 2026 (filed within the typical two-business-day Form 4 window).
• Units granted: 22,346 RSUs (F1), 4,695 RSUs (F2), 4,351 PSUs (F3), 3,193 MSUs (F4–F7). Total = 34,585 units. Reported acquisition price: $0.00 (award).
• Shares owned after transaction: not disclosed in the provided filing.
• Notable footnotes:
  • F1: 22,346 RSUs — vest over 4 years, starting at grant, at 6.25% every three months.
  • F2: 4,695 RSUs — vest over 2 years, starting at grant, at 12.5% every three months.
  • F3: 4,351 PSUs — performance conditions satisfied; 50% vest Aug 15, 2026, remaining vest in two equal installments on Aug 15, 2027 and Aug 15, 2028, subject to continued service.
  • F4–F7: 3,193 MSUs — each MSU equals a contingent right to one common share; target number may be earned from 0%–200% based on total shareholder return objectives; four performance periods begin Aug 31, 2026 with potential vesting quarterly; MSUs do not expire but vest or are canceled per terms.
• Settlement: All grants will be settled in common stock under the 2023 Equity Incentive Plan.

Context

• These awards are compensation-based grants and do not represent an outlay or sale; $0 price means shares will be issued upon vesting/achievement rather than purchased.
• PSUs and MSUs are performance-linked—actual shares received may vary based on service and Paylocity’s performance metrics. Such grants are routine for executive compensation and do not by themselves indicate a buying or selling signal.