1 unchanged sentence
Rule 10b5-1 Trading Arrangements
−Removed: During the quarter ended June 30, 2024 , no director or officer (as defined in Rule 16a-1(f) of the Exchange Act) of the Company adopted , modified , or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408(a) of Regulation S-K).
+Added: During the quarter ended September 30, 2024 , no director or officer (as defined in Rule 16a-1(f) of the Exchange Act) of the Company adopted , modified , or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (in each case, as defined in Item 408(a) of Regulation S-K).
+Added: Amended and Restated Bylaws
+Added: On October 28, 2024, our Board of Directors amended and restated the Company’s existing amended and restated bylaws (as so amended and restated, the “Amended and Restated Bylaws”), effective immediately.
+Added: The amendments contained in the Amended and Restated Bylaws:
+Added: • clarify that the Board of Directors or the President may postpone, reschedule or cancel any special meeting of stockholders, subject to the requirements of the Company’s Amended and Restated Certificate of Incorporation;
+Added: • expand on the powers of the chairman of a stockholder meeting to regulate conduct of that meeting;
+Added: • provide that a white proxy card is reserved for exclusive use of the Board of Directors and that no proxy shall be voted after one year from its date, instead of three years;
+Added: • enhance certain procedural and information requirements with respect to advance notice of stockholder nominations and proposals, including by:
+Added: o requiring additional representations and undertakings from any stockholder nominee with respect to the truth and accuracy of statements provided to the Company as well as compliance with all applicable rules of securities exchanges, the Company’s governing documents and fiduciary duties under Delaware law;
+Added: o limiting disclosure of certain agreements, arrangements, understandings or relationships to only such agreements, arrangements, understandings or relationships that are material;
+Added: o refining information requirements of proposing stockholders and their associated persons with respect to (i) ownership of the Company’s capital stock, (ii) direct or indirect material interests in the nominee or proposal, (iii) voting arrangements or financial support of any proposed director nominee or other business, (iv) the date of first contact between the proposing stockholder and its associated persons, on the one hand, and the proposed nominee, on the other hand, and (v) interests in the Company’s principal competitors;
+Added: o updating requirements related to solicitations in accordance with universal proxy rules;
+Added: o clarifying requirements for updates and supplements of previously provided information;
+Added: o deleting the “acting in concert” definition (and modifying or replacing related defined terms and provisions) to limit certain disclosure requirements to a narrower group of persons who fall within the new definition of “Stockholder Associated Person”;
+Added: • add a requirement that any director nominee be available for interview within 10 days of request of the Board of Directors or the Nominating and Corporate Governance Committee of the Board of Directors;
+Added: • provide that the Board of Directors or the Chief Executive Officer (rather than only the Board of Directors) may grant rights to indemnification and advancement of expenses to current and former employees or agents with the same or lesser scope as indemnification of, and advancement of expenses to, current and former directors and officers;
+Added: • make various other minor updates, including conforming and clarifying changes.
+Added: The foregoing summary of the Amended and Restated Bylaws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, a copy of which is attached hereto as Exhibit 3.2 and is incorporated herein by reference.
The following exhibits are incorporated herein by reference or are filed with this Quarterly Report on Form 10-Q, in each case as indicated therein (numbered in accordance with Item 601 of Regulation S-K):
3 unchanged sentences
Amended and Restated Bylaws of Paycom Software, Inc.
−Removed: (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K dated February 7, 2024, filed with the SEC on February 7, 2024).
Form of Common Stock Certificate (incorporated by reference to Exhibit 4.1 to the Company’s Amendment No.
1 to the Registration Statement on Form S-1/A dated March 31, 2014, filed with the SEC on March 31, 2014).
−Removed: Form of Restricted Stock Unit Award Agreement – Performance-Based Vesting (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated April 1, 2024, filed with the SEC on April 5, 2024).
−Removed: Letter Agreement, by and between Paycom Software, Inc.
−Removed: and Amy Walker, dated April 4, 2024 (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated April 1, 2024, filed with the SEC on April 5, 2024).
−Removed: Independent Consultant and Services Agreement, by and between Paycom Payroll, LLC and Holly Faurot, dated April 4, 2024 (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K dated April 1, 2024, filed with the SEC on April 5, 2024).
−Removed: Release and Award Cancellation and Acceleration Agreement, by and between Paycom Software, Inc.
−Removed: and Holly Faurot, dated April 4, 2024 (incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K dated April 1, 2024, filed with the SEC on April 5, 2024).
−Removed: Severance and Release Agreement, by and among Paycom Software, Inc., Paycom Payroll, LLC and Christopher G.
−Removed: Thomas, dated May 29, 2024.
−Removed: Letter Agreement, by and among Paycom Software, Inc., Paycom Payroll, LLC and Randy Peck, dated May 30, 2024.
Certification of the Chief Executive Officer of the Company, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
10 unchanged sentences
PAYCOM SOFTWARE, INC.
−Removed: August 1, 2024
+Added: October 31, 2024
/s/ Chad Richison
2 unchanged sentences
(Principal Executive Officer)
−Removed: August 1, 2024
+Added: October 31, 2024
Chief Financial Officer
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.