Paymentus Holdings (NYSE: PAY) director reports 13,277-share derivative award

Rhea-AI Filing Summary

Paymentus Holdings director reports new share acquisition. Director Adam Malinowski reported acquiring 13,277 shares of Class B Common Stock of Paymentus Holdings, Inc. on 12/10/2025. These Class B shares are convertible at any time, at the holder's election and upon certain specified events, into an equal number of Class A Common Stock and have no expiration date.

The shares were received in a pro rata distribution from funds affiliated with Accel-KKR, and the acquisition was reported as exempt under Rule 16a-9(a) of the Securities Exchange Act of 1934. Following this transaction, Malinowski beneficially owns 201,547 derivative securities directly.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Malinowski Adam

(Last) (First) (Middle)

C/O ACCEL-KKR

2180 SAND HILL ROAD, SUITE 300

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Paymentus Holdings, Inc. [ PAY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(1)	12/10/2025		J(2)	V	13,277		(1)	(1)	Class A Common Stock	13,277	$0	201,547	D

Explanation of Responses:

1. Class B Common Stock is convertible at any time, at the holder's election and automatically in connection with certain transfers and upon certain other events, into an equal number of shares of Class A Common Stock and has no expiration date.

2. Shares received in a pro rata distribution from funds affiliated with Accel-KKR. The acquisition of such shares was exempt pursuant to Rule 16a-9(a) under the Securities Exchange Act of 1934, as amended.

	/s/ Thomas C. Barnds, as Attorney-in-Fact for Adam Malinowski	12/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Paymentus Holdings (PAY) report?

Paymentus Holdings, Inc. reported that director Adam Malinowski acquired 13,277 shares of Class B Common Stock on 12/10/2025, as disclosed in a Form 4.

How many Paymentus (PAY) shares does the reporting person own after this transaction?

After the reported transaction, Adam Malinowski beneficially owns 201,547 derivative securities of Paymentus Holdings, Inc., held in direct ownership.

What is special about Paymentus (PAY) Class B Common Stock in this Form 4?

The Class B Common Stock referenced is convertible at any time, at the holder's election and automatically in connection with certain transfers and other events, into an equal number of Class A Common Stock, and it has no expiration date.

At what price were the Paymentus (PAY) derivative securities recorded in this transaction?

The Form 4 lists the price of the derivative security as $0, meaning the 13,277 derivative securities were recorded with a $0 exercise or conversion price in this transaction entry.

How did the Paymentus (PAY) director receive the new shares?

The 13,277 Class B shares were received in a pro rata distribution from funds affiliated with Accel-KKR, as explained in the transaction footnotes.

Why was the Paymentus (PAY) insider transaction marked exempt?

The acquisition of the 13,277 shares was stated to be exempt pursuant to Rule 16a-9(a) under the Securities Exchange Act of 1934, according to the explanation of responses.

What transaction code was used in the Paymentus (PAY) Form 4?

The transaction was reported with Transaction Code J in Table II, which generally indicates other acquisition or disposition of derivative securities.