In a recent filing, Steven I. Sarowitz disclosed the sale of 17,694 shares of Paylocity Holding Corp, a significant move that alters his ownership stake in the company. This transaction, executed under a pre-established 10b5-1 plan, is noteworthy as it highlights a strategic adjustment by the insider.
Paylocity Holding Corp, which operates in the services-prepackaged software sector, is known for providing cloud-based payroll and human capital management software solutions. The company is incorporated in Delaware and has its business headquarters in Schaumburg, Illinois.
According to the SEC filing dated October 16, 2026, Sarowitz sold 11,600 shares at an average price of $165.59 and an additional 6,094 shares at an average price of $166.21 on October 15, 2026. Following these transactions, Sarowitz retains ownership of approximately 4,436,795 shares of Paylocity.
The filing notes that these sales were made under an approved 10b5-1 Plan adopted by Sarowitz on December 15, 2025. This plan allows corporate insiders to sell shares at predetermined times, thereby reducing the risk of accusations of insider trading.
This development may affect Paylocity's shareholder sentiment and could prompt discussions within the software services industry regarding insider trading practices and executive equity management. The filing does not specify what actions may follow this transaction.