Company: PAYC
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001193125-25-072358
Chunk: 66

Company: Paycom Software, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 66
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 awards previously granted under the 2014 LTIP and under the 2023 LTIP and (ii) a release of claims against the Company and its successors, assigns, parents, divisions, subsidiaries, and affiliates, and its present and former officers, directors, employees, agents, fiduciaries, and employee benefit plans. Specifically, the Release Agreement provided for the cancellation of (i) 30,370 unvested RSAs, (ii) 5,902 unvested RSUs and (iii) 10,782 unvested PSUs. As consideration for the cancellation of the specified unvested equity incentive awards and the release of claims, the Company accelerated vesting of 3,000 RSAs previously granted to Ms. Faurot under the 2023 LTIP, effective April 4, 2024.

On May 29, 2024, Mr. Thomas resigned from his position as Co-Chief Executive Officer of the Company, effective immediately. In connection with Mr. Thomas’s departure, the Company, Paycom Payroll and Mr. Thomas entered into a Severance and Release Agreement (the “Severance Agreement”), pursuant to which Mr. Thomas received (i) a cash severance payment equal to $812,876, less applicable withholdings and taxes, which amount represented 12 months of Mr. Thomas’s base salary and the cost of 12 months of coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and (ii) the accelerated vesting of 2,000 RSAs. Pursuant to the Severance Agreement, Mr. Thomas forfeited all remaining unvested equity awards. The Severance Agreement contained a release of claims and incorporated customary non-disclosure, non-solicitation and non-disparagement obligations.

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#### Potential Payments upon Termination or Change in ControlThe table below presents the estimated value of payments and benefits that each NEO would have been entitled to receive if the specified triggering event had occurred on December 31, 2024. Amounts presented for the vesting of equity awards are calculated based on the closing price of our Common Stock on the NYSE on December 31, 2024, which was $204.97 per share.NameBenefitDeath/Disability($)Change in Control($)TerminationWithout Causeor by NEO forGood Reason ($)Chad RichisonSalary continuation——832,000(1)Annual Incentive