[Form 4] Paysign, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Joan M. Herman, who serves as Executive Vice President, Operations and a director of Paysign, Inc. (PAYS), reported an equity grant on Form 4. On 05/07/2025 she acquired 16,667 shares of restricted common stock at a reported price of $0.000. Following the grant, the filing shows she beneficially owns 838,250 shares in total. The restricted shares vest in three equal installments: 1/3 on May 13, 2026, 1/3 on May 13, 2027 and 1/3 on May 13, 2028, subject to continued service. The Form 4 is signed by Ms. Herman on 09/26/2025.

Positive

• Grant aligns executive incentives via a three-year vesting schedule (May 13, 2026/2027/2028).
• Increased insider ownership to 838,250 shares, signaling continued management stake in the company.
• Disclosure complete with transaction date, vesting schedule, role, and signature provided.

Negative

• None.

Insights

Financial Analyst

TL;DR: A mid-level insider grant increases director/exec ownership modestly; vesting ties compensation to continued service.

The report documents a non-cash grant of 16,667 restricted shares to Joan Herman, raising her total reported beneficial ownership to 838,250 shares. The grant vests in three annual tranches, aligning retention incentives with the company through 2028. The immediate accounting impact on outstanding shares is contingent on vesting and any withholding, but the filing itself shows no cash purchase and no exercised options. For investors, this is a routine insider grant rather than a sale or transfer.

Corporate Governance Expert

TL;DR: Vesting schedule and role disclosure indicate standard retention-based equity compensation for a senior executive/director.

The Form 4 clearly identifies Ms. Herman as both a director and EVP, Operations, and reports shares granted with a three-year time-based vesting schedule. This structure is consistent with common governance practices to align management incentives with shareholder interests over time. The filing contains explicit vesting dates and the signature, meeting disclosure formalities. No departures, accelerated vesting, or related-party transactions are disclosed.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

1. Name and Address of Reporting Person^*

Herman Joan M

(Last) (First) (Middle)

2615 ST. ROSE PARKWAY

(Street)

HENDERSON NV 89052

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Paysign, Inc. [ PAYS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2025

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
Common Stock	05/07/2025		A		16,667(1)	A	$0.000	838,250	D

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

Explanation of Responses:

1. Represents shares of restricted stock that will vest as to 1/3 of the shares on each of May 13, 2026, May 13, 2027 and May 13, 2028, subject to the reporting person's continued service to the issuer through and on the applicable vesting date.

	/s/ Joan M. Herman	09/26/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Joan M. Herman report on Paysign (PAYS) Form 4?

She reported the acquisition of 16,667 restricted shares on 05/07/2025, increasing her beneficial ownership to 838,250 shares.

What is Joan Herman's role at Paysign (PAYS)?

The filing lists her as a Director and Executive Vice President, Operations.

When do the restricted shares vest?

The shares vest in three equal tranches: May 13, 2026, May 13, 2027, and May 13, 2028, subject to continued service.

What price was reported for the restricted shares on the Form 4?

The reported price for the shares is $0.000.

When was the Form 4 signed by the reporting person?

The Form 4 bears the signature date of 09/26/2025 by Joan M. Herman.