# EDGAR Filing Document

**Accession Number:** 0001590955
**File Stem:** 0000950170-25-109719
**Filing Date:** 2025-8
**Character Count:** 56331
**Document Hash:** 5eee7b851135ed86c1e60d6c51991b0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-109719.hdr.sgml**: 20250818

**ACCESSION NUMBER**: 0000950170-25-109719

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250813

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250818

**DATE AS OF CHANGE**: 20250818

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Paycom Software, Inc.
- **CENTRAL INDEX KEY:** 0001590955
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 800957485
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36393
- **FILM NUMBER:** 251228013

**BUSINESS ADDRESS:**
- **STREET 1:** 7501 W. MEMORIAL ROAD
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73142
- **BUSINESS PHONE:** (405) 722-6900

**MAIL ADDRESS:**
- **STREET 1:** 7501 W. MEMORIAL ROAD
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73142

?xml version='1.0' encoding='ASCII'? 8-K

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM** 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**the Securities Exchange Act of 1934**

Date of Report (Date of Earliest Event Reported): August 13, 2025

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Paycom Software, Inc.

(Exact name of registrant as specified in its charter)

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Delaware(State or other jurisdiction of incorporation) 001-36393(Commission File Number) 80-0957485(IRS Employer Identification No.)

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| | |
|:---|:---|
| 7501 W. Memorial Road**,** Oklahoma City**,** Oklahoma<br>(Address of principal executive offices) | 73142<br>(Zip Code) |

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Registrant's telephone number, including area code: (405) 722-6900

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.01 par value | PAYC | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**

***Executive Officer Transition***

On August 13, 2025, Brad Smith notified the Board of Directors (the "***Board***") of Paycom Software, Inc. (the "***Company***" or "***Paycom***") that he intends to resign from his role as Chief Information Officer, effective October 31, 2025 (the "***Transition Date***"). Mr. Smith will transition to the role of Senior Technical Strategist.

***New Executive Officer Designations*** 

In connection with the announcement of Mr. Smith's upcoming transition, the Board conducted a review of managerial and policymaking responsibilities across various functional areas within the Company. As a result of such review, on August 18, 2025, the Board approved certain title changes and designated the following individuals as the Company's "officers" within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the "***Exchange Act***"), and "executive officers" within the meaning of Rule 3b-7 under the Exchange Act:

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| | |
|:---|:---|
| **<u>Name</u>** | **<u>Title</u>** |
| Chad Richison | Chief Executive Officer and President<sup>(1)</sup> |
| Bob Foster | Chief Financial Officer and Treasurer |
| Amy Vickroy Walker | Chief Sales Officer |
| Randy Peck | Chief Operating Officer<sup>(2)</sup> |
| Shane Hadlock | Chief Client Officer and Chief Technology Officer<sup>(2)</sup> |
| Rachael Gannon | Chief Automation Officer |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)Mr. Richison also serves as Chairman of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;(2)Effective as of August 18, 2025, Mr. Peck and Mr. Hadlock share the responsibilities of the role of principal operating officer of the Company.

In connection with the executive team reorganization described above, Jason Clark, who was previously designated as an executive officer in his role as the Company's Chief Administrative Officer, remains employed with Paycom in a full-time capacity and continues to provide services to Paycom in support of the functional areas represented in the table above. The change in Mr. Clark's designation was effective August 18, 2025.

Shane Hadlock, 50, works with groups across the Company, including operations, implementation and IT. Mr. Hadlock has more than 30 years of technology experience, including the last nearly 14 years at Paycom. Most recently, Mr. Hadlock has served as the Company's Chief Client Officer since October 2024. Prior to that, he served as the Company's Executive Vice President of Information Technology and Information Security from May 2018 to October 2024, following six years as the Company's Director of IT. Before joining Paycom, he served for 10 years in a number of leadership roles at Hertz. He earned his bachelor's degree in computer science and a Master of Business Administration at the University of Central Oklahoma.

Rachael Gannon, 39, most recently served as the Company's Executive Vice President of Product and Development since April 2025. Ms. Gannon has served in various roles during her approximately 12 years with Paycom, including as Executive Vice President of Product from November 2023 to April 2025 and several product management leadership roles between August 2020 and November 2023. Ms. Gannon earned her bachelor's degree in business administration and management at Southwestern Christian University.

***Compensation Arrangements***

<u>Hadlock</u>

Effective August 18, 2025, the Company and Mr. Hadlock entered into a letter agreement (the "***Hadlock Letter Agreeme***nt") setting forth certain terms of Mr. Hadlock's continued employment and his compensation. Mr. Hadlock's annual base salary is $550,000. Consistent with the terms of a bonus program established prior to Mr. Hadlock's promotion, he is eligible to receive a 2025 cash bonus of $500,000 payable in quarterly installments, with two payments remaining for 2025. Beginning in 2026, Mr. Hadlock will be eligible for an annual bonus pursuant to the Paycom Software, Inc. Annual Incentive Plan (the "***AIP***"). Consistent with the bonus program for other executive officers, performance criteria and potential payouts for AIP bonuses will be determined by the Compensation Committee of the Board. Mr. Hadlock is also eligible to receive equity awards under the Paycom Software, Inc. 2023

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Long-Term Incentive Plan (the "***2023 LTIP***") in accordance with the Company's typical annual grant cycle for executive officers. The foregoing description of the terms of the Hadlock Letter Agreement is not complete and is qualified in its entirety by reference to the full text of the Hadlock Letter Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.

<u>Gannon</u>

Effective August 18, 2025, the Company and Ms. Gannon entered into a letter agreement (the "***Gannon Letter Agreement***") setting forth certain terms of Ms. Gannon's continued employment and her compensation. Ms. Gannon's annual base salary is $525,000. Consistent with the terms of a bonus program established prior to Ms. Gannon's promotion, she is eligible to receive a 2025 cash bonus of $200,000 payable in quarterly installments, with two payments remaining for 2025. Beginning in 2026, Ms. Gannon will be eligible for an annual bonus pursuant to the AIP. Consistent with the bonus program for other executive officers, performance criteria and potential payouts for AIP bonuses will be determined by the Compensation Committee of the Board. Ms. Gannon is also eligible to receive equity awards under the 2023 LTIP in accordance with the Company's typical annual grant cycle for executive officers. The foregoing description of the terms of the Gannon Letter Agreement is not complete and is qualified in its entirety by reference to the full text of the Gannon Letter Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.2 and is incorporated herein by reference.

<u>Smith</u>

Following his resignation on October 31, 2025, Mr. Smith will transition to the role of Senior Technical Strategist for Paycom Payroll, LLC ("***Paycom Payroll***"), a wholly owned subsidiary of the Company. In connection with this transition, Mr. Smith entered into a Transition Compensation and Release Agreement (the "***Smith Transition Agreement***") with the Company and a letter agreement setting forth certain terms of his new role (the "***Smith Letter Agreement***"), each dated August 18, 2025.

Pursuant to the Smith Transition Agreement, subject to and contingent upon Mr. Smith's timely execution, return, and non-revocation of a release of claims against the Company (the "***Release***") on the Transition Date, the Company will accelerate the vesting of 7,000 shares of time-based restricted stock and 5,393 time-based restricted stock units previously granted to Mr. Smith under the 2023 LTIP, in each case effective on the eighth day following Mr. Smith's execution of the Release. The Smith Transition Agreement also provides that Mr. Smith's remaining unvested time-based equity incentive awards, consisting of 19,000 unvested shares of restricted stock and 7,901 unvested restricted stock units, will be cancelled. Mr. Smith's unvested performance-based restricted 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.

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**Item 9.01 Financial Statements and Exhibits**

**(d) Exhibits**

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| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |

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| | |
|:---|:---|
| 10.1 | [<u>Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll Holdings, LLC, Paycom Payroll, LLC and Shane Hadlock, dated August 18, 2025.</u>](payc-ex10_1.htm) |
| 10.2 | [<u>Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll Holdings, LLC, Paycom Payroll, LLC and Rachael Gannon, dated August 18, 2025.</u>](payc-ex10_2.htm) |
| 10.3 | [<u>Transition Compensation and Release Agreement, by and between Paycom Software, Inc. and Bradley S. Smith, dated August 18, 2025.</u>](payc-ex10_3.htm) |
| 10.4 | [<u>Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll, LLC and Bradley S. Smith, dated August 18, 2025.</u>](payc-ex10_4.htm) |
| 99.1 | [<u>Press Release, dated August 18, 2025, issued by Paycom Software, Inc. (furnished pursuant to Item 7.01).</u>](payc-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document).  |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | **PAYCOM SOFTWARE, INC.** |
| Date: August 18, 2025 | By: | /s/ Robert D. Foster |
|  | Name: | Robert D. Foster |
|  | Title: | Chief Financial Officer |

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## Exhibit 10.1

**Exhibit 10.1**

Terrell (Shane) Hadlock<br>Via E-Mail

<br>August 18, 2025

Dear Terrell,

We are very pleased to offer you the position of Chief Client Officer and Chief Technology Officer of Paycom Software, Inc. ("***Paycom Software***"), Paycom Payroll Holdings, LLC ("***Holdings***") and Paycom Payroll, LLC ("***Payroll***" and, collectively with Paycom Software and Holdings, the "***Company***"), reporting to the Chief Executive Officer of the Company. Your employment in this role is subject to the terms and conditions set forth in this letter. This letter supersedes and replaces the prior offer letter provided to you in October 2024 with respect to your prior position (the "***Prior Letter***").

Your expected start date in this Chief Client Officer and Chief Technology Officer role is August 18, 2025 and is subject to modification by the Company (your "***Start Date***"). Your position will be based in Oklahoma City, Oklahoma. By signing below, you confirm you understand and agree to the changes in your employment, including, without limitation, any changes from the terms of employment, including compensation, stated in any previous offer letter or other communication. This letter does not constitute a contract for a term of employment and does not alter the at-will employment relationship.

You will continue to be paid an annualized base salary of $550,000, payable bi-weekly in accordance with the standard payroll practices of the Company and subject to all withholdings and deductions as required by law.

For the remainder of the 2025 calendar year, you will continue to be eligible for the annual bonus as outlined in the Prior Letter, with the remaining 2025 annual bonus payments payable quarterly as follows:

Q3 payable October 2025: $125,000

Q4 payable January 2026: $125,000

You must be employed by the Company and in the positions of Chief Client Officer and Chief Technology Officer (or in either (i) a substantially commensurate position with a similar level of duties and responsibilities, even if your title is different, or (ii) a position that the Compensation Committee of Paycom Software's Board of Directors deems to represent a promotion from Chief Client Officer and Chief Technology Officer) on each bonus payment date to be eligible for each quarterly bonus payment.

Beginning in 2026, you will be eligible for an annual bonus pursuant to the Paycom Software, Inc. Annual Incentive Plan. You are also eligible to receive equity incentive awards pursuant to the Paycom Software, Inc. 2023 Long-Term Incentive Plan (the "***2023 LTIP***").

While we anticipate a mutually beneficial relationship with you, the Company recognizes your right to terminate this relationship at any time. Similarly, the Company reserves the same right to alter, modify, or terminate this employment relationship and its terms at will at any time with or without notice or cause, in its sole and complete discretion.

This letter reflects the entire understanding regarding the terms of your employment with the Company with the exception of (a) your agreement to the Company's corporate and personnel policies, (b) the *Paycom Payroll, LLC Employee Non-Solicitation Agreement* between you and Payroll, dated February 4, 2025, (c) the *Paycom Payroll, LLC Employee Intellectual Property Assignment, Confidentiality, and Class Action Waiver Agreement* between you and Payroll, dated February 4, 2025, (d) any previously granted award agreements under the 2023 LTIP or the Paycom Software, Inc. 2014

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Long-Term Incentive Plan (including but not limited to the clawback and forfeiture provisions therein). **Accordingly, with those exceptions, this letter supersedes and replaces any prior oral or written communication on the subject of your employment by the Company in any capacity**. By signing this letter, you agree that you are not relying on, have not relied on, and you specifically disavow reliance on, any oral or written statement, representation, or inducement relating to your employment that is not contained in this letter.

All of us at the Company are excited about the prospect of you accepting the Chief Client Officer and Chief Technology Officer role. If you have any questions about the above details, please call me immediately. To evidence your acceptance of these terms, please sign below and return this letter agreement to me.

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| |
|:---|
| Yours sincerely, |
| **PAYCOM SOFTWARE, INC.** |
| /s/ Matt Paque |
| Name: Matt Paque |
| Title: Chief Legal Officer and Secretary |

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| |
|:---|
| **ACCEPTED AND AGREED:** |
| /s/ Terrell (Shane) Hadlock  |
| Terrell (Shane) Hadlock |
| August 18, 2025  |
| Date |

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## Exhibit 10.2

**Exhibit 10.2**

Rachael Gannon<br>Via E-Mail

<br>August 18, 2025

Dear Rachael,

We are very pleased to offer you the position of Chief Automation Officer of Paycom Software, Inc. ("***Paycom Software***"), Paycom Payroll Holdings, LLC ("***Holdings***") and Paycom Payroll, LLC ("***Payroll***" and, collectively with Paycom Software and Holdings, the "***Company***"), reporting to the Chief Executive Officer of the Company. Your employment in this role is subject to the terms and conditions set forth in this letter. This letter supersedes and replaces the prior offer letter provided to you in November 2023 with respect to your prior position (the "***Prior Letter***").

Your expected start date in this Chief Automation Officer role is August 18, 2025 and is subject to modification by the Company (your "***Start Date***"). Your position will be based in Oklahoma City, Oklahoma. By signing below, you confirm you understand and agree to the changes in your employment, including, without limitation, any changes from the terms of employment, including compensation, stated in any previous offer letter or other communication. This letter does not constitute a contract for a term of employment and does not alter the at-will employment relationship.

You will continue to be paid an annualized base salary of $525,000, payable bi-weekly in accordance with the standard payroll practices of the Company and subject to all withholdings and deductions as required by law.

For the remainder of the 2025 calendar year, you will continue to be eligible for the annual bonus as outlined in the Prior Letter, with the remaining 2025 annual bonus payments payable quarterly as follows:

Q3 payable October 2025: $50,000

Q4 payable January 2026: $50,000

You must be employed by the Company and in the position of Chief Automation Officer (or in either (i) a substantially commensurate position with a similar level of duties and responsibilities, even if your title is different, or (ii) a position that the Compensation Committee of Paycom Software's Board of Directors deems to represent a promotion from Chief Automation Officer) on each bonus payment date to be eligible for each quarterly bonus payment.

Beginning in 2026, you will be eligible for an annual bonus pursuant to the Paycom Software, Inc. Annual Incentive Plan. You are also eligible to receive equity incentive awards pursuant to the Paycom Software, Inc. 2023 Long-Term Incentive Plan (the "***2023 LTIP***").

While we anticipate a mutually beneficial relationship with you, the Company recognizes your right to terminate this relationship at any time. Similarly, the Company reserves the same right to alter, modify, or terminate this employment relationship and its terms at will at any time with or without notice or cause, in its sole and complete discretion.

This letter reflects the entire understanding regarding the terms of your employment with the Company with the exception of (a) your agreement to the Company's corporate and personnel policies, (b) the *Paycom Payroll, LLC Employee Non-Solicitation Agreement* between you and Payroll, dated February 3, 2025, (c) the *Paycom Payroll, LLC Employee Intellectual Property Assignment, Confidentiality, and Class Action Waiver Agreement* between you and Payroll, dated February 3, 2025, (d) any previously granted award agreements under the 2023 LTIP or the Paycom Software, Inc. 2014

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Long-Term Incentive Plan (including but not limited to the clawback and forfeiture provisions therein). **Accordingly, with those exceptions, this letter supersedes and replaces any prior oral or written communication on the subject of your employment by the Company in any capacity**. By signing this letter, you agree that you are not relying on, have not relied on, and you specifically disavow reliance on, any oral or written statement, representation, or inducement relating to your employment that is not contained in this letter.

All of us at the Company are excited about the prospect of you accepting the Chief Automation Officer role. If you have any questions about the above details, please call me immediately. To evidence your acceptance of these terms, please sign below and return this letter agreement to me.

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| |
|:---|
| Yours sincerely, |
| **PAYCOM SOFTWARE, INC.** |
| /s/ Matt Paque |
| Name: Matt Paque |
| Title: Chief Legal Officer and Secretary |

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| |
|:---|
| **ACCEPTED AND AGREED:** |
| /s/ Rachael Gannon  |
| Rachael Gannon |
| August 18, 2025  |
| Date |

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## Exhibit 10.3

**Exhibit 10.3**

**TRANSITION COMPENSATION AND RELEASE AGREEMENT**

This **TRANSITION COMPENSATION AND RELEASE AGREEMENT** (this "***Agreement***") is entered into by and between Paycom Software, Inc., a Delaware corporation (the "***Company***") and Bradley S. Smith (the "***Participant***"), effective as of August 18, 2025.

**WHEREAS**, the Company sponsors and maintains the Paycom Software, Inc. 2023 Long-Term Incentive Plan (the "***LTIP***");

**WHEREAS**, pursuant to the LTIP and (i) that certain Restricted Stock Award Agreement – Time-Based Vesting (Executive), dated May 2, 2023 (the "***2023 RS Award Agreement***"), the Company previously granted to the Participant, an award of 40,000 time-based shares of restricted stock (the "***2023 RS Award***"), under which 26,000 shares remain unvested and outstanding; (ii) that certain Restricted Stock Unit Award Agreement – Time-Based Vesting (Executive), dated May 2, 2023 (the "***2023 RSU Award Agreement***"), the Company previously granted to the Participant an award of 2,070 time-based restricted stock units (the "***2023 RSU Award***"), under which 690 units remain unvested and outstanding; (iii) that certain Restricted Stock Unit Award Agreement – Time-Based Vesting (Executive), dated March 1, 2024 (the "***2024 RSU Award Agreement***"), the Company previously granted to the Participant an award of 4,522 time-based restricted stock units (the "***2024 RSU Award***"), under which, 3,015 units remain unvested and outstanding; (iv) that certain Restricted Stock Unit Award Agreement – Time-Based Vesting (Executive), dated February 21, 2025 (the "***2025 RSU Award Agreement***"), the Company previously granted to the Participant an award of 9,589 time-based restricted stock units (the "***2025 RSU Award***" and, collectively with the 2023 RSU Award and the 2024 RSU Award, the "***RSU Awards***"), all of which remain unvested and outstanding; and (v) that certain Restricted Stock Unit Award Agreement – Performance-Based Vesting, dated February 21, 2025 (the "***2025 PSU Award Agreement***"), the Company previously granted to the Participant an award of 9,589 performance-based restricted stock units (the "***2025 PSU Award***"), all of which remain unvested and outstanding (the agreements identified in clauses (i) through (v) above, collectively, the "***Smith Award Agreements***");

**WHEREAS**, the Participant's employment with the Company and its subsidiaries will transition from the role of Chief Information Officer to the role of Senior Technical Strategist, effective as of October 31, 2025 (the "***Transition Date***"), pursuant to the terms of that letter agreement by and between the Participant and Paycom Payroll, LLC, dated as of even date herewith (the "***Letter Agreement***"), and the Participant will continue full-time employment in such role on and after the Transition Date;

**WHEREAS**, as of immediately prior to the Transition Date, (i) 26,000 total shares of time-based restricted stock previously granted to the Participant under the Smith Award Agreements will remain unvested and outstanding (the "***Unvested Shares***"); (ii) 13,294 total time-based restricted stock units previously granted to the Participant under the Smith Award Agreements will remain unvested and outstanding (the "***Unvested RSUs***"); and 9,589 total performance-based restricted stock units previously granted to the Participant under the Smith Award Agreements will remain unvested and outstanding (the "***Unvested PSUs***" and, collectively with the Unvested Shares and the Unvested RSUs, the "***Unvested Incentives***"); and

**WHEREAS**, in exchange for the consideration described below, the Company and the Participant desire to cancel all of the Unvested Incentives (excluding the Accelerated Incentives (as defined below) and the Unvested PSUs) as of the Effective Date (as defined in <u>Exhibit A</u>, attached hereto), so that on and after the Effective Date, all Unvested Incentives (excluding the Accelerated Incentives and the Unvested PSUs) and the associated Smith Agreements shall be cancelled, terminated, and of no further force or effect.

**NOW, THEREFORE**, in consideration of the mutual covenants contained herein and other good and valuable consideration, the sufficiency of which are hereby acknowledged, the parties to this Agreement agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Consideration; Accelerated Incentives; Continuation of the 2025 PSU Award</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Provided that the Participant complies with this Agreement, in consideration of (a) the Participant's execution of this Agreement and promises herein, (b) the Participant's execution of the release of claims against the Company described in <u>Section 3</u> and in the form set forth in <u>Exhibit A</u> of this Agreement, provided it is not executed prior to the Transition Date, and (c) the Participant's agreement to cancel certain Unvested Incentives (as set forth in <u>Section 2</u> below) and any other rights, obligations and liabilities of the Company granting the Participant the right to acquire shares of Company common stock or other ownership interests of the Company in connection with such Unvested Incentives, the Company agrees to accelerate the vesting of (i) 7,000 Unvested Shares under the 2023 RS Award (the "***Accelerated Shares***"), and (ii) 5,393 Unvested RSUs under the RSU Awards (the "***Accelerated RSUs***, together with the Accelerated Shares, collectively, the "***Accelerated Incentives***"), effective as of the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Unless the 2025 PSU Award has been otherwise forfeited by the Participant prior to the Transition Date, the 2025 PSU Award shall remain outstanding and eligible to vest on and after the Transition Date, in accordance with and subject to the terms and conditions of the 2025 PSU Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Cancellation of Unvested Incentives</u>. In exchange for the consideration described in <u>Section 1</u> above, the Participant hereby agrees that each of the following shall be cancelled, terminated, and of no further force or effect, effective on the Effective Date: (a) 19,000 Unvested Shares under the 2023 RS Award, and (b) 7,901 Unvested RSUs under the RSU Awards (clauses (a) and (b), collectively, the "***Cancelled Incentives***"). Neither the Company nor the Participant shall have any further rights or obligations with respect to the Cancelled Incentives or under the Smith Award Agreements as they relate to the Cancelled Incentives, or with respect to any shares of common stock of the Company that could have been acquired under the Smith Award Agreements with respect to the Unvested Incentives (with the exception of the Accelerated Incentives and the 2025 PSU Award (if applicable)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Release</u>. The Participant agrees to execute and deliver to the Company the release of claims in the form set forth in <u>Exhibit A</u> of this Agreement (the "***Release Agreement***") on the Transition Date. The Participant acknowledges and agrees that the Release Agreement must be executed on the Transition Date and will not meet the conditions under <u>Section 1</u> of this Agreement if it is executed prior to the Transition Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Representations and Warranties</u>. The Participant hereby represents and warrants to the Company that: (a) there are no restrictions on the cancellation of the Cancelled Incentives, (b) the Participant has full power and authority to enter into and perform this Agreement and to carry out the transactions contemplated hereby, and (c) this Agreement (including the Release Agreement) constitutes the legal, valid, and binding obligation of the Participant, enforceable against the Participant in accordance with its terms. The Participant has read and understood this Agreement and is entering into this Agreement voluntarily. The Participant agrees that this Agreement provides good and valuable consideration for the Participant's agreements contained herein and in the Release Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a. <u>Headings</u>. The headings that are used in this Agreement are used for reference and convenience purposes only and do not constitute substantive matters to be considered in construing the terms and provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; b. <u>Parties Bound</u>. The terms, provisions, representations, warranties, covenants, and agreements that are contained in this Agreement shall apply to, be binding upon, and inure to the benefit of the parties to this Agreement and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; c. <u>Entire Agreement</u>. This Agreement, together with the Release Agreement, contains the entire understanding of the parties to this Agreement with respect to the subject matter contained in this Agreement and supersedes all prior agreements and understandings among the parties with respect to such subject matter, including, without limitation, the Smith Award Agreements. For the avoidance of doubt, this Agreement does not supersede (i) the Participant's agreement to the Company's corporate and personnel policies, (ii) the Letter Agreement, (iii) the Employee Intellectual Property Assignment, Confidentiality, and Class Action Waiver Agreement signed by the Participant on February 4, 2025, and (iv) the Non-Solicitation Agreement signed by the Participant on February 4, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; d. <u>Disclaimer of Reliance</u>. Except for the specific representations expressly made by the Company in this Agreement, the Participant specifically disclaims that the Participant is relying upon or has relied upon on any communications, promises, statements, inducements, or representation(s) that may have been made, oral or written, regarding the subject matter of this Agreement. The parties to this Agreement represent that they are relying solely and only on their own judgment in entering into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; e. <u>Law Governing</u>. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Oklahoma (excluding any conflict of laws rule or principle of Oklahoma law that might refer the governance, construction, or interpretation of this agreement to the laws of another state).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; f. <u>Execution</u>. This Agreement may be executed in two or more counterparts (including facsimile or portable document (".pdf") counterparts), all of which taken together shall constitute one instrument. The exchange of copies of this Agreement and of signature pages by facsimile or .pdf transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile or .pdf shall be deemed to be their original signatures for any purpose whatsoever.

\* \* \* \* \* \* \* \*

[*Remainder of Page Intentionally Left Blank*

*Signature Page Follows*.]

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**IN WITNESS WHEREOF**, the Company has caused this Agreement to be executed by its duly authorized officer, and the Participant, to evidence his consent and approval of all the terms hereof, has duly executed this Agreement as of the date above.

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| |
|:---|
| **COMPANY:** |
| **Paycom Software, Inc.** |
| By: /s/ Matt Paque |
| Name: Matt Paque |
| Title: Chief Legal Officer and Secretary |

---

---

| |
|:---|
| **Participant:** |
| /s/ Bradley S. Smith |
| Signature |

---

---

| | |
|:---|:---|
| Name: | Bradley S. Smith |
| Address:  |  |

---

*Signature Page to the*

*Transition Compensation and Release Agreement*

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**<u>Exhibit A</u>**

**Release Agreement**

This **RELEASE AGREEMENT** (this "***Release Agreement***") is entered into by and between Paycom Software, Inc., a Delaware corporation (the "***Company***"), and Bradley S. Smith (the "***Participant***"), effective as of the Effective Date (as defined below).

 **WHEREAS**, the parties have entered into a Transition Compensation and Release Agreement, dated as of August 18, 2025 (the "***Transition Agreement***"); and

**WHEREAS**, in exchange for the release of claims set forth herein, the Company has agreed to provide certain consideration to the Participant as set forth in the Transition Agreement, provided that this Release Agreement is executed on the Transition Date (as defined and set forth in the Transition Agreement).

**NOW, THEREFORE**, in consideration of the mutual covenants contained herein and other good and valuable consideration, the sufficiency of which are hereby acknowledged, the parties to this Release Agreement agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Release</u>. Effective as of the Effective Date, and in exchange for the consideration provided to the Participant pursuant to the Transition Agreement, the Participant (for himself and his heirs, successors and assigns) unconditionally and irrevocably releases and discharges 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 (collectively, the "***Released Parties***") from any and all claims, counterclaims, set-offs, debts, demands, choses in action, obligations, remedies, suits, damages, and liabilities in connection with or arising from (i) the reduction of his rights to acquire shares of Company common stock pursuant to the 2023 RS Award or the RSU Awards (as such terms are defined in the Transition Agreement); (ii) the forfeiture of any rights to acquire securities of the Company pursuant to the Cancelled Incentives (as defined in the Transition Agreement) and the shares of Company common stock issuable thereunder; (iii) the Participant's hiring or employment with the Company; (iv) the demotion or discontinuation of the Participant's employment with the Company; or (v) the Transition Agreement and this Release Agreement (collectively, the "***Released Claims***"), whether now known or unknown, arising from common law, statute or in equity, which the Participant or the Participant's successors, heirs, or assigns ever had, have, or in the future may claim to have against the Released Parties and which may have arisen at any time on or prior to the Transition Date and to the full extent such claims may be released under applicable law. Such Released Claims include, without limitation, claims for wrongful discharge, libel, slander, breach of express or implied contract or implied covenant of good faith and fair dealing, fraud, concealment, negligence, negligent misrepresentation, promissory estoppel, quantum meruit, intentional or negligent infliction of emotional distress, violation of public policy, discrimination, retaliation, harassment and claims arising under any laws that prohibit age, sex, sexual orientation, race, national origin, color, disability, religion, veteran, workers' compensation or any other form of discrimination, harassment, or retaliation, including, without limitation, claims under the Americans with Disabilities Act of 1990, as amended, the Rehabilitation Act of 1973, Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §1981, the Civil Rights Act of 1991, the Civil Rights Act of 1866 and/or 1871, the Equal Pay Act of 1963, the Lilly Ledbetter Fair Pay Act of 2009, the Fair Labor Standards Act, the Employee Retirement Income Security Act of 1974, as amended, the Family and Medical Leave Act of 1993, the Occupational Safety and Health Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act, the Worker Adjustment and Retraining Notification Act, the Genetic Information Nondiscrimination Act, the National Labor Relations Act, the Labor Management Relations Act, the Immigration Reform and Control Act, the Oklahoma Anti-Discrimination Act, the Oklahoma Standards for Workplace Drug and Alcohol Testing Act, Oklahoma medical marijuana laws, retaliation under the Administrative Workers' Compensation Act and the Oklahoma Workers' Compensation Act, Oklahoma public policy, Oklahoma's Genetic Non-Discrimination in Employment Act, Delaware's

*Exhibit A to the*

*Transition Compensation and Release Agreement*

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Discrimination in Employment Act, any statute or laws of the State of Oklahoma and Delaware, any other similar or equivalent federal, state or local laws, any other federal, state, local, municipal or common law whistleblower, discrimination or anti-retaliation statute, law or ordinance, and any other claims arising under state or federal law, as well as any expenses, costs or attorneys' fees. Except as required by law, the Participant agrees never to commence or aid any action or proceeding against the Released Parties based on any of the Released Claims. Notwithstanding the foregoing, this release shall not apply to any of the Company's obligations under this Release Agreement or the Transition Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>No Interference</u>. Nothing in this Release Agreement is intended to interfere with the Participant's right to report possible violations of federal, state or local law or regulation to any governmental or law enforcement agency or entity, or to make other disclosures that are protected under the whistleblower provisions of federal or state law or regulation. The Participant further acknowledges that nothing in this Release Agreement is intended to interfere with the Participant's right to file a claim or charge with, or testify, assist, or participate in an investigation, hearing, or proceeding conducted by, the Equal Employment Opportunity Commission ("***EEOC***"), any state human rights commission, or any other government agency or entity. However, by executing this Release Agreement, the Participant hereby waives the right to recover any damages or benefits in any proceeding the Participant may bring before the EEOC, any state human rights commission, or any other government agency or entity or in any proceeding brought by the EEOC, any state human rights commission, or any other government agency or entity on the Participant's behalf with respect to any of the Released Claims; *except that* the Participant does not waive any right to, and shall not be precluded from seeking, any government issued award including any whistleblower award pursuant to Section 21F of the Securities Exchange Act of 1934 or similar provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>No Admission of Liability</u>. This Release Agreement shall not in any way be construed as an admission by the Company or the Participant of any acts of wrongdoing or violation of any statute, law, or legal right. Rather, the parties to this Release Agreement specifically deny and disclaim that either has any liability to the other.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Further Assurances</u>. Each party to this Release Agreement agrees that it will perform all such further acts and execute and deliver all such further documents as may be reasonably required in connection with the consummation of the transactions contemplated hereby in accordance with the terms of this Release Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Review</u>. The Participant acknowledges that: (i) this Release Agreement is written in terms and sets forth conditions in a manner which the Participant understands; (ii) the Participant has carefully read and understands all of the terms and conditions of this Release Agreement; (iii) the Participant agrees with the terms and conditions of this Release Agreement; and (iv) the Participant enters into this Release Agreement knowingly and voluntarily. The Participant acknowledges that the Participant does not waive rights or claims that may arise after the Transition Date, and that the Participant has been given at least forty-five (45) calendar days after the Participant received this Release Agreement, to review and consider this Release Agreement and that any modifications, material or otherwise, made to this Release Agreement do not restart or affect in any manner the original forty-five (45) day consideration period. The Participant understands that if the Participant does not sign this Release Agreement on the Transition Date, the offer under this Release Agreement and the Transition Agreement will be withdrawn automatically. After the Participant signs this Release Agreement, the Participant will have a period of seven (7) calendar dates to revoke the Participant's acceptance of this Release Agreement. If the Participant decides to revoke this Release Agreement, the Participant must provide written notification of revocation to the Company at [\*\*\*\*\*\*\*\*\*] within the seven (7) day revocation period. This Release Agreement will not become effective or enforceable until the eighth (8<sup>th</sup>) day after the Participant signs this Release Agreement provided that the Agreement is not earlier revoked as provided herein (the "***Effective Date***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.<u>Law Governing</u>. This Release Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Oklahoma (excluding any conflict of laws rule or principle of

*Exhibit A to the*

*Transition Compensation and Release Agreement*

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Oklahoma law that might refer the governance, construction, or interpretation of this agreement to the laws of another state).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.<u>Execution</u>. This Release Agreement may be executed in two or more counterparts (including facsimile or portable document (".pdf") counterparts), all of which taken together shall constitute one instrument. The exchange of copies of this Release Agreement and of signature pages by facsimile or .pdf transmission shall constitute effective execution and delivery of this Release Agreement as to the parties and may be used in lieu of the original Release Agreement for all purposes. Signatures of the parties transmitted by facsimile or .pdf shall be deemed to be their original signatures for any purpose whatsoever.

\* \* \* \* \* \* \* \*

[*Remainder of Page Intentionally Left Blank*

*Signature Page Follows*.]

*Exhibit A to the*

*Transition Compensation and Release Agreement*

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 **IN WITNESS WHEREOF**, the Company has caused this Release Agreement to be executed by its duly authorized officer, and the Participant, to evidence his consent and approval of all the terms hereof, has duly executed this Release Agreement as of the Transition Date.

---

| |
|:---|
| **COMPANY:** |
| **Paycom Software, Inc.** |
| By: /s/ Matt Paque |
| Name: Matt Paque |
| Title: Chief Legal Officer and Secretary |

---

---

| |
|:---|
| **Participant:** |
| /s/ Bradley S. Smith |
| Signature |

---

---

| | |
|:---|:---|
| Name: | Bradley S. Smith |
| Address:  |  |

---

*Exhibit A to the*

*Transition Compensation and Release Agreement*

*Signature Page to the Release Agreement*

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## Exhibit 10.4

**Exhibit 10.4**

Bradley S. Smith<br>Via E-Mail

<br>August 18, 2025

Dear Brad,

In connection with your resignation from the position of Chief Information Officer effective October 31, 2025, we are very pleased to offer you the position of Senior Technical Strategist for Paycom Payroll, LLC (the "***Company***"), reporting to the Chief Executive Officer of the Company. Your employment in this role is subject to the terms and conditions set forth in this letter.

Your expected start date as Senior Technical Strategist is November 1, 2025, and is subject to modification by the Company (your "***Start Date***"). Your position will be based in Oklahoma City, Oklahoma. By signing below, you confirm you understand and agree to the changes in your employment, including, without limitation, any changes from the terms of employment, including compensation, stated in any previous offer letter or other communication. This letter does not constitute a contract for a term of employment and does not alter the at-will employment relationship.

You will continue to be paid an annualized base salary of $552,944.41, payable bi-weekly in accordance with the standard payroll practices of the Company and subject to all withholdings and deductions as required by law.

With respect to 2025 performance period, you will remain eligible to receive a cash bonus pursuant to the Paycom Software, Inc. Annual Incentive Plan (the "***Annual Incentive Plan***"), in accordance with the terms previously approved by the Compensation Committee of the Board of Directors of Paycom Software, Inc. Beginning in 2026, you will no longer be eligible for an annual bonus pursuant to the Annual Incentive Plan.

While we anticipate a mutually beneficial relationship with you, the Company recognizes your right to terminate this relationship at any time. Similarly, the Company reserves the right to alter, modify, or terminate this employment relationship and its terms at will at any time with or without notice or cause, in its sole and complete discretion.

This letter reflects the entire understanding regarding the terms of your employment with the Company with the exception of (a) your agreement to the Company's corporate and personnel policies, (b) the *Paycom Payroll, LLC Employee Non-Solicitation Agreement* between you and the Company, dated February 4, 2025, (c) the *Paycom Payroll, LLC Employee Intellectual Property Assignment, Confidentiality, and Class Action Waiver Agreement* between you and the Company, dated February 4, 2025, (d) your agreement with respect to equity incentive awards pursuant to the Transition Compensation and Release Agreement, dated as of even date herewith. **Accordingly, with those exceptions, this letter supersedes and replaces any prior oral or written communication on the subject of your employment by the Company or its affiliates in any capacity**. By signing this letter, you agree that you are not relying on, have not relied on, and you specifically disavow reliance on, any oral or written statement, representation, or inducement relating to your employment that is not contained in this letter.

If you have any questions about the above details, please call me immediately. To evidence your acceptance of these terms, please sign below and return this letter to me.

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---

| |
|:---|
| Yours sincerely, |
| **PAYCOM PAYROLL, LLC** |
| /s/ Matt Paque |
| Name: Matt Paque |
| Title: Chief Legal Officer and Secretary |

---

---

| |
|:---|
| **ACCEPTED AND AGREED:** |
| /s/ Bradley S. Smith |
| Bradley S. Smith |
| August 18, 2025  |
| Date |

---

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## Exhibit 99.1

**Exhibit 99.1**

![img87395786_0.jpg](img87395786_0.jpg)

**Paycom promotes Shane Hadlock to lead IT; appoints Rachael Gannon to chief automation officer**

*Brad Smith named senior technical strategist* 

**OKLAHOMA CITY – (Aug. 18, 2025)** – Paycom Software, Inc. (NYSE: PAYC) ("Paycom"), a leading provider of comprehensive, cloud-based human capital management software, today announced the expanded role of Shane Hadlock as Paycom's chief client officer and chief technology officer and the promotion of Rachael Gannon to chief automation officer, effective Aug. 18. Brad Smith has been named the company's senior technical strategist and will continue reporting to CEO Chad Richison.

As chief technology officer, Hadlock will oversee Paycom's IT department, while maintaining his chief client officer role and leadership of Paycom's client service groups.

"Shane's exceptional client-centric approach, combined with his systems expertise, has made him an invaluable asset to our organization," said Chad Richison, Paycom founder and CEO. "His institutional knowledge and ability to expand our technical capabilities has been a key factor behind our ability to deliver even more client ROI."

Hadlock has more than 30 years of technology experience. Prior to being named chief client officer, he led multiple IT functions at Paycom for nearly 14 years, including the role of executive vice president of Information Technology and Information Security for six years. Before joining Paycom, he served for 10 years in a number of leadership roles at Hertz.

"Our clients are at the forefront of everything we do, and I remain focused on delivering full-solution automation and world-class service," said Hadlock.

Gannon joined Paycom in 2013 and stepped in to lead the Product department in 2023. Most recently, she served as executive vice president of Product and Development.

"Rachael is naturally expanding her role to continue automating our product offerings. She has had robust success throughout her 12-year career. Her intuitive approach to automation has allowed our clients to achieve a higher ROI without additional spending," added Richison.

As chief automation officer, Gannon will lead the Software department and be responsible for driving Paycom's overall product strategy, working closely with cross-functional teams to deliver innovative solutions that drive even more client value and return on investment. She has served in various roles at Paycom, including as executive vice president of Product and several product management leadership roles after being a key member of Paycom's service department.

"I'm honored to take on this new role and contribute to Paycom's continued success. We're driven by a passion for innovation and a commitment to excellence, and I'm eager to continue to enhance the most automated solution on the market," said Gannon.

Smith joined Paycom in 2005, holding roles as director of Software Development and director of Information Technology before being named chief information officer in 2018.

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"I'm grateful for Brad's seven-year tenure as our CIO and I'm excited to see him leverage his expertise in his new role as senior technical strategist to drive even more innovative solutions," said Richison.

Under his leadership, Paycom's technology has grown exponentially, and Smith has been instrumental in implementing scalable solutions.

"When I look back over the last 20 years, I am filled with joy and admiration for Paycom. I am proud of everything we accomplished, and I am looking forward to taking on this strategic role. The new leadership team is poised to continue to do great things," Smith said.

To learn more about Paycom, visit www.paycom.com.

**About Paycom**

Paycom Software, Inc. (NYSE: PAYC) simplifies business and employees' lives through automated, command-driven HR and payroll technology that revolutionizes data access. From hire to retire, Paycom's employee-first technology leverages AI and full-solution automation to streamline processes and drive efficiencies in a truly single database, providing a seamless experience for Paycom's clients and their employees. With its industry-first AI engine, IWant™, Paycom provides instant and accurate access to employee data without having to navigate or learn the software. For over 25 years, Paycom has been recognized for its innovative technology and workplace culture while serving businesses of all sizes in the U.S. and internationally.

**Media Contact:**

Larisha Hunter

media@paycom.com

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