Sarowitz Steven I sold $2.3M of PCTY
Sarowitz Steven I sold 15,107 shares of Paylocity Holding Corp (PCTY) at an average of $151.65 ($150.63–$153.06, $2.29M total) across 4 trades on 2026-08-13 under a Rule 10b5-1 trading plan.
How this was made
The 30-second read
Why it matters
The newest fact is the reported open-market sale of 15,107 shares by a director and 10% owner, totaling about $2.29M, with a stated 10b5-1 pre-arranged plan.
Market read
Traders may monitor insider activity for sentiment, but 10b5-1 plans usually limit the signal’s predictive value.
What to watch
The filing date (Aug. 17) can create a short-lived headline effect even though the actual selling occurred on Aug. 13 across multiple trades.
Background
The article is an SEC Form 4 insider transaction disclosure for Paylocity Holding Corp (PCTY).
Ticker impact
Paylocity director and 10% owner Steven Sarowitz sold about $2.29M of PCTY shares via an open-market sale under a 10b5-1 plan on Aug. 13.
Low likelihood of a sustained price move; any reaction is likely limited to short-term sentiment around the filing date.
Form 4 shows a sizable dollar amount, but the trades are explicitly under a pre-arranged 10b5-1 plan, which typically reduces interpretive weight versus discretionary selling.
Market effects
No direct sector read-through; this is company-specific insider activity.
None indicated.
None indicated.
Counterpoint
Because the sales were executed under a pre-arranged 10b5-1 plan, the disclosure may not reflect new negative information about Paylocity’s outlook.
Key entities
- issuerPaylocity Holding Corp
Subject of the Form 4 insider sale disclosure.
- insiderSteven I. Sarowitz
Director and 10% owner who sold shares under a 10b5-1 plan.
