Amendment: Paylocity Holding Corporation filed SEC Form 8-K: Leadership Update
$PCTY
Computer Software: Prepackaged Software
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
______________________________
FORM 8-K/A
Amendment No. 1
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 26, 2024
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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.
On August 15, 2024, the Compensation Committee of the Board determined that in his role as Executive Chairman, the target value of Mr. Beauchamp’s fiscal year 2025 equity awards will be reduced to $2,000,000 in the form of: 50% time-based vesting restricted stock units (“RSUs”); 17% market stock units (“MSUs”) that may be earned based on the Company’s total stockholder return as compared to the Russell 3000 Index; and 33% in the form of performance stock units (“PSUs”) that may be earned based on the Company’s achievement of performance against fiscal year recurring and other revenue targets.
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.
| PAYLOCITY HOLDING CORPORATION | ||||||||
| Date: August 19, 2024 | By: | /s/ Ryan Glenn | ||||||
| Ryan Glenn | ||||||||
| Chief Financial Officer | ||||||||