Company: PAYC
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-024136
Chunk: 138

Company: Paycom Software, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1B
Chunk 138
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 December 31, 2024, and ending March 13, 2026, subject to earlier termination in accordance with the terms of the Boelte 10b5-1 Plan and applicable laws, rules and regulations. On December 12, 2024, an entity affiliated with Brad Smith, Chief Information Officer, adopted a Rule 10b5-1 trading arrangement (the “Smith 10b5-1 Plan”) that is intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act. The Smith 10b5-1 Plan provides for the sale of up to 7,500 shares of common stock on behalf of the affiliated entity during the period beginning on the later of (i) March 13, 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