Paysign director sells 59,904 shares in plan trades

Paysign, Inc. (PAYS) director and EVP, Operations Joan M. Herman reported selling a total of 59,904 shares of common stock in open-market transactions under a Rule 10b5-1 trading plan.

Available on EDGAR 09/17/2026 - 09:00 PM EDT Accepted by SEC EDGAR 09/17/2026 - 09:00 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Paysign, Inc. (PAYS) director and EVP, Operations Joan M. Herman reported selling a total of 59,904 shares of common stock in open-market transactions under a Rule 10b5-1 trading plan. On September 15, 2026, 21,004 shares were sold at a weighted average price of $12.3819, and on September 16, 2026, 38,900 shares were sold at a weighted average price of $11.7437, across price ranges disclosed in the footnotes.

Insider Trade Summary 10b5-1

Net Seller: 59,904 shares

Net Sell 2 txns

Insider Herman Joan M

Role EVP, Operations

Sold 59,904 shs ($717K)

Share of Position Sold 8.9%

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F3	38,900	$11.7437	$457K
Sale	Common Stock F1, F2	21,004	$12.3819	$260K

Holdings After Transaction: Common Stock — 609,421 shares (Direct)

Holdings Before and After: Common Stock, 669,325 to 609,421 shares (Direct)

Other Insiders: 3 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (3)

1. F1. Transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 12, 2025.
2. F2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.3501 to $12.5901, 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.
3. F3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.4401 to $12.2901, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of 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 September 15, 2026: 21,004 shares Weighted average price September 15, 2026: $12.3819 per share Shares sold September 16, 2026: 38,900 shares +5 more

8 metrics

Shares sold September 15, 2026 21,004 shares Open-market sale of Paysign common stock by Joan M. Herman

Weighted average price September 15, 2026 $12.3819 per share Multiple transactions in a range from $12.3501 to $12.5901

Shares sold September 16, 2026 38,900 shares Open-market sale of Paysign common stock by Joan M. Herman

Weighted average price September 16, 2026 $11.7437 per share Multiple transactions in a range from $11.4401 to $12.2901

Total shares sold 59,904 shares Sum of reported Paysign common stock sales on September 15–16, 2026

Rule 10b5-1 plan adoption date September 12, 2025 Plan under which the reported sales were effected

Price range September 15, 2026 $12.3501–$12.5901 per share Range of individual trade prices in the weighted average

Price range September 16, 2026 $11.4401–$12.2901 per share Range of individual trade prices in the weighted average

Key Terms

Rule 10b5-1 trading plan, weighted average price, open market or private transaction, beneficially owned

4 terms

Rule 10b5-1 trading plan regulatory

"Transaction was effected pursuant to a Rule 10b5-1 trading plan adopted"

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 or private transaction financial

"Sale in open market or private transaction"

beneficially owned regulatory

"shares beneficially owned following reported transactions"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Paysign (PAYS) report in this Form 4?

Paysign reported that director and EVP, Operations Joan M. Herman sold a total of 59,904 shares of common stock in open-market transactions on September 15 and 16, 2026, as shown in the filing’s non-derivative transaction table.

How many Paysign (PAYS) shares did Joan M. Herman sell on each date?

On September 15, 2026, Joan M. Herman sold 21,004 shares of Paysign common stock. On September 16, 2026, she sold an additional 38,900 shares, for a total of 59,904 shares reported in this Form 4.

What prices were received in the Paysign (PAYS) insider sales reported?

For September 15, 2026, the weighted average sale price was $12.3819 per share, with individual trades ranging from $12.3501 to $12.5901. For September 16, 2026, the weighted average price was $11.7437, with trades ranging from $11.4401 to $12.2901.

Were the Paysign (PAYS) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 12, 2025, and the Form 4 also affirms the Rule 10b5-1 checkbox at the document level.

Does the Form 4 show Joan M. Herman’s Paysign (PAYS) holdings after these sales?

No. For each reported transaction, the field for shares beneficially owned following reported transactions is left blank, so this Form 4 does not state her remaining Paysign common stock holdings.

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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)
09/15/2026

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	09/15/2026		S(1)		21,004	D	$12.3819(2)	648,321	D
Common Stock	09/16/2026		S(1)		38,900	D	$11.7437(3)	609,421	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 $12.3501 to $12.5901, 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.

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.4401 to $12.2901, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of 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	09/17/2026
	** 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)