Company: PAYC
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-024136
Chunk: 222

Company: Paycom Software, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 9B
Chunk 222
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2025, and (ii) the third trading day following disclosure of the Company’s financial results on 

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Form 10-K for the year ended December 31, 2024, and ending March 13, 2026, subject to earlier termination in accordance with the terms of the Smith 10b5-1 Plan and applicable laws, rules and regulations.

2025 Executive Long-Term Incentive Awards

Effective February 21, 2025, the Compensation Committee of the Board of Directors granted the following awards of performance-based restricted stock units (“PSUs”) and time-based restricted stock units (“RSUs”) to our executive officers (dollars in millions):

    Name
     
    Target PSU Value(1)
     
    RSU Value

    Chad Richison
     
    $9.0
     
    $9.0

    Bob Foster
     
    $2.0
     
    $2.0

    Bradley S. Smith
     
    $2.0
     
    $2.0

    Randy Peck
     
    $1.75
     
    $1.75

    Amy Walker
     
    $1.75
     
    $1.75

    Jason D. Clark
     
    $0.2
     
    $0.2

(1)“Target PSU Value” assumes achievement of the maximum performance level.

The number of PSUs or RSUs granted will be determined by dividing (i) the applicable target value set forth in the table above by (ii) the average daily volume weighted average price for our common stock during the 10 trading days preceding and ending on February 21, 2025.

PSU Awards

Each award of PSUs (each, a “2025 PSU Award” and, collectively, the “2025 PSU Awards”) was granted pursuant to the terms of the Paycom Software, Inc. 2023 Long-Term Incentive Plan (the “2023 LTIP”) and the Company’s standard form of Restricted Stock Unit Award Agreement - Performance-Based Vesting (each, a “PSU Award Agreement”). Each PSU represents a notional share of the Company’s common stock. The 2025 PSU Awards will vest based on the Company’s performance over a one-year performance period commencing on January 1, 2025 and ending on December 31, 2025 (the “Performance Period”). The number of PS