Paysign (PAYS) EVP sells 100,000 shares in pre-set 10b5-1 stock plan

Rhea-AI Filing Summary

Paysign, Inc. executive vice president of operations Joan M. Herman reported an open-market sale of 100,000 shares of common stock at a weighted average price of $8.0114 per share. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 12, 2025.

After this sale, Herman directly holds 707,009 shares of Paysign common stock. Because the sale occurred pursuant to a Rule 10b5-1 plan, it appears to be part of a scheduled diversification or liquidity program rather than a discretionary one-time trade.

Insights

Insider trading and governance analyst

Executive sold 100,000 shares under a pre-set 10b5-1 plan while retaining over 700,000 shares.

The filing shows EVP of Operations Joan M. Herman completed an open-market sale of 100,000 Paysign shares at a weighted average price of $8.0114 per share. This is classified as a non-derivative common stock transaction, not an option exercise or derivative event.

A key detail is that the sale was effected under a Rule 10b5-1 trading plan adopted on September 12, 2025. Such plans typically pre-schedule trades, reducing the informational value of short-term timing. Following the sale, Herman still directly owns 707,009 shares, suggesting she maintains substantial exposure to Paysign’s equity.

From an investor’s standpoint, this looks like a routine liquidity transaction by a senior executive under a pre-arranged plan rather than a signal of a changed outlook. Future Form 4 filings will show whether additional sales occur pursuant to the same trading plan.

Insider Trade Summary 10b5-1

Net Seller: 100,000 shares ($801,140)

Net Sell 1 txn

Insider Herman Joan M

Role EVP, Operations

Sold 100,000 shs ($801K)

Type	Security	Shares	Price	Value
Sale	Common Stock	100,000	$8.0114	$801K

Holdings After Transaction: Common Stock — 707,009 shares (Direct, null)

Footnotes (1)

1. Transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 12, 2025. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.0071 to $8.0329, inclusive. The reporting person undertakes to provide to Paysign, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Key Figures

Shares sold: 100,000 shares Weighted average sale price: $8.0114 per share Post-transaction holdings: 707,009 shares +2 more

5 metrics

Shares sold 100,000 shares Open-market sale of common stock on June 26, 2026

Weighted average sale price $8.0114 per share Price for 100,000 shares of Paysign common stock

Post-transaction holdings 707,009 shares Direct Paysign common stock owned after the sale

Trading plan adoption date September 12, 2025 Date Rule 10b5-1 plan was adopted

Intraday sale price range $8.0071–$8.0329 Range of individual trade prices within the 100,000-share sale

Key Terms

Rule 10b5-1 trading plan, weighted average price, open-market sale, non-derivative

4 terms

Rule 10b5-1 trading plan regulatory

"Transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

non-derivative financial

""transaction_type": "non-derivative""

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 07:23 PM Accepted by SEC EDGAR 06/30/2026 - 07:22 PM Learn about SEC filing dates

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).

X

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^*

Herman Joan M

(Last) (First) (Middle)

2615 ST. ROSE PARKWAY

(Street)

HENDERSON NEVADA 89052

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

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

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

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

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	06/26/2026		S(1)		100,000	D	$8.0114(2)	707,009	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. Transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 12, 2025.

2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.0071 to $8.0329, inclusive. The reporting person undertakes to provide to Paysign, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Joan Herman	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Paysign (PAYS) executive Joan M. Herman report in this Form 4?

Joan M. Herman reported selling 100,000 shares of Paysign common stock in an open-market transaction. The weighted average sale price was $8.0114 per share, and the sale was executed under a pre-arranged Rule 10b5-1 trading plan.

At what price did Joan M. Herman sell Paysign (PAYS) shares?

She sold the 100,000 Paysign common shares at a weighted average price of $8.0114. The shares were executed in multiple trades within a range from $8.0071 to $8.0329, as disclosed in the weighted-average price footnote.

How many Paysign (PAYS) shares does Joan M. Herman hold after the sale?

After the reported transaction, Joan M. Herman directly holds 707,009 shares of Paysign common stock. This indicates she retains a substantial equity position in the company despite the 100,000-share sale disclosed in this Form 4 filing.

Was the Paysign (PAYS) insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing states the sale was effected under a Rule 10b5-1 trading plan adopted on September 12, 2025. Such plans pre-schedule trades, which generally makes the timing of individual sales less indicative of the insider’s short-term market view.

What type of transaction did Paysign (PAYS) report for Joan M. Herman?

The Form 4 shows a non-derivative open-market sale of common stock coded as an “S” transaction. It is not an option exercise or derivative conversion, but a straightforward sale of 100,000 existing Paysign shares into the market.

How many Paysign (PAYS) shares did Joan M. Herman sell in total?

She sold a total of 100,000 Paysign common shares in this reported transaction. The filing notes that these were executed as multiple trades across a narrow price range, with the weighted average price reported as $8.0114 per share.