Paycom CFO Departs; New Directors Appointed
Ticker: PAYC · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1590955
| Field | Detail |
|---|---|
| Company | Paycom Software, Inc. (PAYC) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $517,000, $600,000, $42,557 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, board-changes, interim-cfo
Related Tickers: PAYC
TL;DR
Paycom CFO out, interim CFO in. Two new board members join.
AI Summary
Paycom Software, Inc. announced on April 1, 2024, the departure of its Chief Financial Officer, Craig Boelte. The company has appointed William J. St. Clair as interim CFO. Additionally, the company elected two new directors, Christopher J. Bottini and Steven A. Theis, to its Board of Directors, effective April 1, 2024.
Why It Matters
Changes in key executive positions and board composition can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — The departure of a CFO and appointment of an interim successor, along with board changes, introduces a degree of uncertainty regarding leadership stability and strategic direction.
Key Players & Entities
- Paycom Software, Inc. (company) — Registrant
- Craig Boelte (person) — Departing Chief Financial Officer
- William J. St. Clair (person) — Interim Chief Financial Officer
- Christopher J. Bottini (person) — Newly Elected Director
- Steven A. Theis (person) — Newly Elected Director
- April 1, 2024 (date) — Effective date of changes
FAQ
Who has been appointed as the interim Chief Financial Officer of Paycom Software, Inc.?
William J. St. Clair has been appointed as the interim Chief Financial Officer.
When did the changes in executive and board positions become effective?
The changes became effective on April 1, 2024.
Who are the two new directors elected to Paycom's Board?
Christopher J. Bottini and Steven A. Theis were elected as new directors.
Who previously held the position of Chief Financial Officer?
Craig Boelte was the Chief Financial Officer before his departure.
What is the principal executive office address for Paycom Software, Inc.?
The principal executive office is located at 7501 W. Memorial Road, Oklahoma City, Oklahoma 73142.
Filing Stats: 1,533 words · 6 min read · ~5 pages · Grade level 11.1 · Accepted 2024-04-05 16:07:29
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value PAYC New York Stock Excha
- $517,000 — ole, Ms. Walker's annual base salary is $517,000. In connection with her promotion, the
- $600,000 — ligible to receive a 2024 cash bonus of $600,000, payable in four quarterly installments
- $42,557 — ring which time Ms. Faurot will be paid $42,557 per month (the " Fees "). The Consultin
Filing Documents
- payc-20240401.htm (8-K) — 62KB
- payc-ex10_1.htm (EX-10.1) — 89KB
- payc-ex10_2.htm (EX-10.2) — 25KB
- payc-ex10_3.htm (EX-10.3) — 75KB
- payc-ex10_4.htm (EX-10.4) — 57KB
- payc-ex99_1.htm (EX-99.1) — 8KB
- img87395786_0.jpg (GRAPHIC) — 4KB
- img170934411_0.jpg (GRAPHIC) — 4KB
- 0000950170-24-042257.txt ( ) — 488KB
- payc-20240401.xsd (EX-101.SCH) — 29KB
- payc-20240401_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On April 2, 2024, the Company issued a press release announcing the appointment of Amy Walker as Executive Vice President of Sales. 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 Securities Exchange Act of 1934, as amended (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.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Form of Restricted Stock Unit Award Agreement – Performance-Based Vesting. 10.2 Letter Agreement, by and between Paycom Software, Inc. and Amy Walker, dated April 4, 2024. 10.3 Independent Consultant and Services Agreement, by and between Paycom Payroll, LLC and Holly Faurot, dated April 4, 2024. 10.4 Release and Award Cancellation and Acceleration Agreement, by and between Paycom Software, Inc. and Holly Faurot, dated April 4, 2024. 99.1 Press release issued April 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
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. PAYCOM SOFTWARE, INC. Date: April 5, 2024 By: /s/ Craig E. Boelte Name: Craig E. Boelte Title: Chief Financial Officer