New president at Paycom (NYSE: PAYC) as Shane Hadlock takes role
Rhea-AI Filing Summary
Paycom Software, Inc. announced that its Board of Directors appointed Shane Hadlock as President, with the title President and Chief Client Officer. He will serve as the company’s sole principal operating officer, and the Chief Operating Officer, Randy Peck, will report to him. Chad Richison remains Chief Executive Officer and Chairman of the Board. In connection with the promotion, Hadlock’s annual base salary was increased to $700,000.
The company also approved amended and restated bylaws. The revisions update the description of the President’s role so that the President’s duties can be assigned and directed by either the Board or the Chief Executive Officer. The bylaws further revise the definition of “Principal Competitor” used in advance notice provisions, now tying it to entities the Board determines, in good faith, compete with or provide alternatives to Paycom’s principal products or services.
Positive
- None.
Negative
- None.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction |
(Commission |
(IRS Employer |
|
|
|
(Address of principal executive offices) |
(Zip Code) |
|
Registrant’s telephone number, including area code:
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of President
On February 18, 2026, the Board of Directors (the “Board”) of Paycom Software, Inc. (the “Company”) appointed Shane Hadlock, as President of the Company. Mr. Hadlock’s new title is President and Chief Client Officer, and he will perform the functions of the Company’s sole principal operating officer. Randy Peck, the Company’s Chief Operating Officer, will report to Mr. Hadlock. Chad Richison will continue to serve as the Company’s Chief Executive Officer and Chairman of the Board. In connection with Mr. Hadlock’s promotion, his annual base salary was increased to $700,000.
Prior to his promotion, Mr. Hadlock, 51, had served as the Company’s Chief Client Officer from October 2024 to August 2025 and as Chief Client Officer and Chief Technology Officer from August 2025 to February 2026. He works with groups across the Company, including operations, implementation and IT, and has more than 30 years of technology experience, including nearly 14 years at the Company. Mr. Hadlock served as the Company’s Executive Vice President of Information Technology and Information Security from May 2018 to October 2024, following six years as the Company’s Director of IT. Before joining the Company, he served for 10 years in a number of leadership roles at Hertz. He earned his bachelor’s degree in computer science and a Master of Business Administration at the University of Central Oklahoma.
There are no arrangements or understandings between Mr. Hadlock and any other person pursuant to which Mr. Hadlock was named President of the Company. Mr. Hadlock does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to become a director or executive officer. Mr. Hadlock does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On February 18, 2026, the Board approved amended and restated bylaws of the Company (as so amended and restated, the “Amended and Restated Bylaws”). The Amended and Restated Bylaws reflect an updated description of the role of the President, such that the President’s duties may be assigned by the Board or the Chief Executive Officer, rather than the Board alone, and the President’s performance of his duties is subject to the direction of the Board or the Chief Executive Officer, rather than the Board alone. The Amended and Restated Bylaws also include an updated definition of “Principal Competitor,” as such term is used in the advance notice provisions. Previously, the definition of “Principal Competitor” referenced competitors of the Company identified in certain filings with the Securities and Exchange Commission made by the Company. Pursuant to the Amended and Restated Bylaws, “Principal Competitor” means any entity that the Board determines, in good faith, provides products or services that compete with or are alternatives to the principal products produced or services provided by the Company or its affiliates.
The foregoing description 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 filed with this Current Report on Form 8-K as Exhibit 3.1 and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On February 19, 2026, the Company issued a press release announcing Mr. Hadlock’s appointment as President. 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 Securities Exchange Act of 1934, as amended (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.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
|
Description of Exhibit |
|
|
|
3.1 |
|
Amended and Restated Bylaws of Paycom Software, Inc. |
|
|
|
99.1 |
|
Press release issued February 19, 2026. |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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: |
February 19, 2026 |
By: |
|
|
|
|
Robert D. Foster |
|
|
|
Chief Financial Officer |
Exhibit 99.1
Paycom promotes Shane Hadlock to president
OKLAHOMA CITY – (Feb. 19, 2026) – Paycom Software, Inc. (NYSE: PAYC) (“Paycom”), a leading provider of comprehensive, cloud-based human capital management software, today announced the promotion of Shane Hadlock to president, effective immediately. Hadlock will serve as president and chief client officer, overseeing the company’s strategic operations, cross-functional alignment and continued execution of Paycom’s full-solution automation strategy.
“Shane has been instrumental in driving meaningful outcomes for our clients and our business, and he consistently demonstrates strong leadership and an unwavering commitment to operational excellence,” said Chad Richison, Paycom founder and CEO. “His ability to unify teams, strengthen processes and execute at scale has positioned Paycom for long-term growth as we continue delivering even more ROI to our clients.”
Hadlock has business and technology leadership experience, including nearly 14 years at Paycom in roles of increasing responsibility. He has served in multiple leadership roles, including overseeing the company’s client service initiatives and critical IT functions that expanded Paycom’s technological capabilities.
“I’m honored to step into this role and continue working alongside our clients, employees and stakeholders,” said Hadlock. “Paycom’s commitment to innovation and automation is unmatched, and I look forward to helping drive our mission as we scale and deliver even more value to the businesses we serve.”
Before joining Paycom, Hadlock served in multiple leadership roles at Hertz over a 10-year tenure, gaining extensive expertise in enterprise systems, operational transformation and customer-centric technology strategy.
To learn more about Paycom, visit https://paycom.com/.
About Paycom
Paycom Software, Inc. (NYSE: PAYC) simplifies business and employees’ lives through automated, command-driven HR and payroll technology that revolutionizes data access. From hire to retire, Paycom’s employee-first technology leverages AI and full-solution automation to streamline processes and drive efficiencies in a truly single database, providing a seamless experience for Paycom’s clients and their employees. With its industry-first AI engine, IWant™, Paycom provides instant and accurate access to employee data without having to navigate or learn the software. For over 25 years, Paycom has been recognized for its innovative technology and workplace culture while serving businesses of all sizes in the U.S. and internationally.
Media Contact:
Larisha Hunter
media@paycom.com
Filing Exhibits & Attachments
3 documentsPress Releases
