Paylocity Director Linda M. Breard Receives 2,207 RSU Award

What Happened

• Linda M. Breard, a director of Paylocity Holding Corp. (PCTY), was granted 2,207 restricted stock units (RSUs) on August 14, 2026. The RSUs were granted at an acquisition price of $0.00 (i.e., awarded, not purchased).
• Each RSU converts into one share of common stock upon vesting. The RSUs vest 25% quarterly and will be fully vested on the first anniversary of the grant. The award is payable under the Issuer’s Amended and Restated 2023 Equity Incentive Plan.
• This is an equity compensation award (not a market purchase or sale) and does not reflect an immediate cash transaction.

Key Details

• Transaction date: 2026-08-14; filing date: 2026-08-18 (filed 4 days after the transaction).
• Acquisition price: $0.00 per RSU; total stated acquisition value: $0 (market value depends on PCTY share price at vesting).
• Vesting: 25% quarterly, fully vested one year after grant.
• Shares owned after transaction: not reported in the Form 4 filing.
• Footnote: RSUs entitle the holder to one share per RSU and will be settled under the company’s 2023 Equity Incentive Plan.
• Filing timeliness: The Form 4 was filed four days after the transaction; Form 4s are generally due within two business days, so this filing appears delayed.

Context

• RSU grants to directors are common as part of compensation and are not the same as an open-market purchase (which some investors view as a stronger bullish signal).
• These RSUs will only become shares as they vest; until then they are a promise of future shares subject to the vesting schedule and plan terms.