Company: PAYC
Filing Date: 2025-08-18
Form Type: 8-K
Source: 0000950170-25-109719
Chunk: 3

Company: Paycom Software, Inc.
Filing Date: 2025-08-18
Form: 8-K
Item: Item 5.02
Chunk 3
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 stock units will remain outstanding and eligible to vest in accordance with the terms of the applicable award agreement.

Pursuant to the Smith Letter Agreement, Mr. Smith will serve as Senior Technical Strategist for Paycom Payroll, reporting to the Chief Executive Officer. The Smith Letter Agreement provides that Mr. Smith will continue to be paid his annualized base salary of $552,944 and, with respect to 2025 performance period, he will remain eligible to receive a cash bonus pursuant to the AIP in accordance with the terms previously approved by the Compensation Committee of the Board. Beginning in 2026, he will no longer be eligible for an annual bonus pursuant to the AIP.

The foregoing descriptions of the terms of the Smith Transition Agreement and the Smith Letter Agreement are not complete and are qualified in their entirety by reference to the full text of the Smith Transition Agreement and the Smith Letter Agreement, respectively, copies of which are filed with this Current Report on Form 8-K as Exhibit 10.3 and Exhibit 10.4, respectively, and are incorporated herein by reference.

Except as described above, the executive team reorganization did not result in any changes to the Company’s compensation arrangements with any person named herein.

Item 7.01 Regulation FD Disclosure

On August 18, 2025, the Company issued a press release announcing the changes to the Company’s team of executive officers. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.