Steven I Sarowitz Form 4 Paylocity Holding / Steven I Sarowitz ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Sarowitz Steven I

(Last)

(First)

(Middle)

C/O 1400 AMERICAN LANE

(Street)

SCHAUMBURG

60173

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Paylocity Holding Corp [ PCTY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.001	05/08/2020		S		3,922⁽¹⁾	D	$113.37⁽²⁾	13,765,410	D
Common Stock, par value $0.001	05/08/2020		S		12,110⁽¹⁾	D	$114.51⁽³⁾	13,753,300	D
Common Stock, par value $0.001	05/08/2020		S		74,515⁽¹⁾	D	$115.4⁽⁴⁾	13,678,785	D
Common Stock, par value $0.001	05/08/2020		S		49,438⁽¹⁾	D	$116.35⁽⁵⁾	13,629,347	D
Common Stock, par value $0.001	05/08/2020		S		33,298⁽¹⁾	D	$117.48⁽⁶⁾	13,596,049	D
Common Stock, par value $0.001	05/08/2020		S		16,489⁽¹⁾	D	$118.32⁽⁷⁾	13,579,560	D
Common Stock, par value $0.001	05/08/2020		S		5,628⁽¹⁾	D	$119.39⁽⁸⁾	13,573,932	D
Common Stock, par value $0.001	05/08/2020		S		1,200⁽¹⁾	D	$120.16⁽⁹⁾	13,572,732	D
Common Stock, par value $0.001	05/08/2020		S		500⁽¹⁾	D	$121.24⁽¹⁰⁾	13,572,232	D
Common Stock, par value $0.001	05/08/2020		S		1,800⁽¹⁾	D	$122.27⁽¹¹⁾	13,570,432	D
Common Stock, par value $0.001	05/08/2020		S		1,100⁽¹⁾	D	$123.14	13,569,332	D
Common Stock, par value $0.001	05/08/2020		S		1,200⁽¹²⁾	D	$113.33⁽¹³⁾	124,800	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		5,799⁽¹²⁾	D	$114.85⁽¹⁴⁾	119,001	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		12,870⁽¹²⁾	D	$115.52⁽¹⁵⁾	106,131	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		9,023⁽¹²⁾	D	$116.57⁽¹⁶⁾	97,108	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		7,705⁽¹²⁾	D	$117.67⁽¹⁷⁾	89,403	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		3,503⁽¹²⁾	D	$118.5⁽¹⁸⁾	85,900	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		1,000⁽¹²⁾	D	$119.74⁽¹⁹⁾	84,900	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		200⁽¹²⁾	D	$120.87⁽²⁰⁾	84,700	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		500⁽¹²⁾	D	$122.14⁽²¹⁾	84,200	I	by the Julian Grace Foundation
Common Stock, par value $0.001	05/08/2020		S		200⁽¹²⁾	D	$123.14	84,000	I	by the Julian Grace Foundation

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transaction indicated was conducted under an approved 10b5-1 Plan adopted by the reporting person on December 10, 2019.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $112.88 to $113.64, inclusive. The reporting person undertakes to provide to Paylocity Holding Corporation, any security holder of Paylocity Holding Corporation, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 of this Form 4.

3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $113.93 to $114.92, inclusive.

4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $114.94 to $115.94, inclusive.

5. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $115.95 to $116.95, inclusive.

6. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $116.96 to $117.96, inclusive.

7. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $117.98 to $118.96, inclusive.

8. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $119.00 to $119.97, inclusive.

9. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $120.01 to $120.37, inclusive.

10. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $121.02 to $121.70, inclusive.

11. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $122.08 to $122.72, inclusive.

12. The transaction indicated was conducted under an approved 10b5-1 Plan adopted by the Julian Grace Foundation on December 16, 2019.

13. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $113.08 to $114.01, inclusive. The reporting person undertakes to provide Paylocity Holding corporation, any security holder of Paylocity Holding Corporation, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes 13, 14 15, 16, 17, 18, 19, 20 and 21 of this Form 4.

14. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $114.10 to $115.10, inclusive.

15. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $115.11 to $116.11, inclusive.

16. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $116.12 to $117.11, inclusive.

17. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $117.13 to $118.10, inclusive.

18. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $118.15 to $119.08, inclusive.

19. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $119.39 to $120.02, inclusive.

20. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $120.86 to $120.87, inclusive.

21. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $122.08 to $122.32, inclusive.

Remarks:

	/s/ Kris Kang, attorney-in-fact to Steven I. Sarowitz	05/12/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Steven I Sarowitz Form 4Paylocity Holding / Steven I Sarowitz ownership change