Paylocity Holding Corp. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Paylocity Holding Corp. on September 22, 2021, regarding events occurring on September 21, 2021. The filing addresses Item 5.02, concerning the appointment of certain officers and their compensatory arrangements.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on personnel changes and associated compensation.
Material Changes
The primary material change reported is the restructuring of senior financial leadership roles effective September 21, 2021:
- Nicholas Rost was appointed Vice President and Chief Accounting Officer.
- Andrew Cappotelli, the former Chief Accounting Officer, was appointed Chief Compliance/Risk Officer and Vice President of Client Tax Operations, reporting to the CFO.
Management Commentary and Compensation Details
In connection with his appointment, Nicholas Rost received the following compensation package:
- Base Salary: $240,000 annually.
- Annual Incentive Bonus: Target value of 40% of base salary.
- Restricted Stock Units (RSUs): Grant date value of $230,000, subject to the Company's Equity Incentive Plan terms.
The filing states there are no other material plans, contracts, or arrangements involving Mr. Rost, nor any family relationships with directors or officers requiring disclosure.
Investor Verification Checklist
- Verify the effective date of the leadership transition (September 21, 2021).
- Confirm the total value of the initial equity grant ($230,000) and vesting terms in the Equity Incentive Plan.
- Review the reporting structure for the new Chief Compliance/Risk Officer role.
- Check subsequent filings for any changes to the compensation structure or additional executive appointments.