UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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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 September 21, 2021, the Company’s Board of Directors (“Board”) appointed Nicholas Rost as the Company’s Vice President and Chief Accounting Officer. Also, effective September 21, 2021, the Company’s current Chief Accounting Officer, Andrew Cappotelli, was appointed as the Company’s Chief Compliance/Risk Officer and Vice President of Client Tax Operations, reporting to the CFO. Mr. Rost, age 41, has served as Corporate Controller of the Company since May 2019. From May 2017 through May 2019, Mr. Rost held various financial leadership roles at Joyson Safety Systems, including Chief Accounting Officer and Executive Director of Financial Planning and Analysis. From 2003 until May 2017, Mr. Rost held various roles at PricewaterhouseCoopers LLP, a registered public accounting firm, last serving as a Senior Manager in the Assurance Practice. Mr. Rost earned his B.S.B.A degree in Accounting Information Systems from Central Michigan University. He is also a Certified Public Accountant.
In connection with his appointment, Mr. Rost was granted a base salary of $240,000, will be eligible to receive an annual incentive bonus with a target value of 40% of Mr. Rost’s base salary and restricted stock units with a grant date value of $230,000, subject to standard terms and conditions of the Company’s Equity Incentive Plan.
Mr. Rost is not a party to any material plan, contract or arrangement with the Company, nor has any other material plan, contract or arrangement to which he is a party been modified as a result of Mr. Rost’s appointment described above.
There is no arrangement or understanding between Mr. Rost and any other person pursuant to which he was selected as an officer of the Company and there are no family relationships between Mr. Rost and any of the Company’s directors or executive officers. There are no transactions to which the Company is a party and in which Mr. Rost has a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K.
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: September 22, 2021 | By: | /s/ Toby J. Williams |
Toby J. Williams | ||
| Chief Financial Officer | ||