Paycom Software Announces Director Changes
Ticker: PAYC · Form: 8-K · Filed: Aug 18, 2025 · CIK: 1590955
| Field | Detail |
|---|---|
| Company | Paycom Software, Inc. (PAYC) |
| Form Type | 8-K |
| Filed Date | Aug 18, 2025 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.01, $550,000, $500,000, $525,000, $200,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: PAYC
TL;DR
Paycom board shakeup: Patrick Smith out, David Maxfield in. Officer pay details also filed.
AI Summary
On August 13, 2025, Paycom Software, Inc. filed an 8-K report detailing the departure of Director Patrick J. Smith and the appointment of new Director David L. Maxfield. The filing also disclosed compensatory arrangements for certain officers, though specific details of these arrangements were not provided in the excerpt.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance and executive compensation disclosures, with no immediate financial or operational risks indicated.
Key Players & Entities
- Paycom Software, Inc. (company) — Registrant
- Patrick J. Smith (person) — Departing Director
- David L. Maxfield (person) — Appointed Director
- August 13, 2025 (date) — Date of Earliest Event Reported
FAQ
Who has departed from the Board of Directors of Paycom Software, Inc.?
Director Patrick J. Smith has departed from the Board of Directors.
Who has been appointed as a new Director to the Board of Paycom Software, Inc.?
David L. Maxfield has been appointed as a new Director.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is August 13, 2025.
What other information is disclosed in this filing besides director changes?
The filing also discloses compensatory arrangements of certain officers.
In which state is Paycom Software, Inc. incorporated?
Paycom Software, Inc. is incorporated in Delaware.
Filing Stats: 1,903 words · 8 min read · ~6 pages · Grade level 10.8 · Accepted 2025-08-18 16:10:30
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value PAYC New York Stock Excha
- $550,000 — on. Mr. Hadlock's annual base salary is $550,000. Consistent with the terms of a bonus p
- $500,000 — ligible to receive a 2025 cash bonus of $500,000 payable in quarterly installments, with
- $525,000 — ion. Ms. Gannon's annual base salary is $525,000. Consistent with the terms of a bonus p
- $200,000 — ligible to receive a 2025 cash bonus of $200,000 payable in quarterly installments, with
- $552,944 — o be paid his annualized base salary of $552,944 and, with respect to 2025 performance p
Filing Documents
- payc-20250813.htm (8-K) — 86KB
- payc-ex10_1.htm (EX-10.1) — 31KB
- payc-ex10_2.htm (EX-10.2) — 31KB
- payc-ex10_3.htm (EX-10.3) — 99KB
- payc-ex10_4.htm (EX-10.4) — 26KB
- payc-ex99_1.htm (EX-99.1) — 17KB
- img87395786_0.jpg (GRAPHIC) — 27KB
- 0000950170-25-109719.txt ( ) — 469KB
- payc-20250813.xsd (EX-101.SCH) — 29KB
- payc-20250813_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
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.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 10.1 Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll Holdings, LLC, Paycom Payroll, LLC and Shane Hadlock, dated August 18, 2025. 10.2 Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll Holdings, LLC, Paycom Payroll, LLC and Rachael Gannon, dated August 18, 2025. 10.3 Transition Compensation and Release Agreement, by and between Paycom Software, Inc. and Bradley S. Smith, dated August 18, 2025. 10.4 Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll, LLC and Bradley S. Smith, dated August 18, 2025. 99.1 Press Release, dated August 18, 2025, issued by Paycom Software, Inc. (furnished pursuant to Item 7.01). 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: August 18, 2025 By: /s/ Robert D. Foster Name: Robert D. Foster Title: Chief Financial Officer