Company: PAYC
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001193125-25-072358
Chunk: 43

Company: Paycom Software, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 43
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 vesting in the second year and approximately 52% vesting in the third year; (ii) an award of 15,000 PSUs that would vest based on achievement of a revenue performance goal, consistent with the 2024 PSUs described above; and (iii) an award of 4,104 immediately vested shares of Common Stock. In connection with his resignation in May 2024, Mr. Thomas forfeited all of the foregoing equity awards, as well as the annual equity incentive awards granted to him in March 2024. Awards Vested in 2024 Vesting of 2024 PSUs In February 2025, the Committee reviewed and certified the achievement of performance goals applicable to PSUs granted to NEOs in 2024. Our 2024 revenue was $1,883.2 million, which exceeded the target performance level. However, due to the payout cap on awards granted to Messrs. Boelte, Smith, Peck and Clark, no additional payout was provided beyond the target opportunity level, and 2024 PSUs vested at target. Although the PSUs granted to Ms. Walker in 2024 provided for vesting in excess of target, our 2024 revenue was slightly less than the maximum performance level for such award. Accordingly, Ms. Walker’s PSUs also vested at target. Vesting of 2022 PSUs In February 2025, the Committee also reviewed and certified our TSR performance relative to the S&P 500 Software & Services Index for the second and final performance period applicable to the 2022 PSUs. Up to 25% of the target 2022 PSUs were eligible to vest based on our two-year relativeTSR during the measurement period ended December 31, 2023, and up to 75% of the target 2022 PSUs were eligible to vest based on our three-year relative TSR during the measurement period ended December 31, 2024. The first tranche of the 2022 PSUs resulted in a payout of 0% of target based on our relative TSR rank at the 9 thpercentile. The second tranche also paid out at 0% of target based on our relative TSR rank at the 6 thpercentile, 50

resulting in a cumulative payout of 0% of target for the 2022 PSUs. Unearned 2022 PSUs were forfeited, and there are no additional opportunities to earn these PSUs.

2020 CEO Performance