Paysign (PAYS) EVP Joan Herman executes 10b5-1 sale of 59,904 shares

Rhea-AI Filing Summary

Paysign, Inc. EVP of Operations and director Joan M Herman reported open-market sales of a total of 59,904 shares of common stock on July 15–16, 2026, at weighted average prices of $8.5962 and $8.6932 per share. Following these transactions, Herman holds 647,105 shares directly. The sales were effected under a Rule 10b5-1 trading plan adopted on September 12, 2025.

Insider Trade Summary 10b5-1

Net Seller: 59,904 shares ($517,663)

Net Sell 2 txns

Insider Herman Joan M

Role EVP, Operations

Sold 59,904 shs ($518K)

Type	Security	Shares	Price	Value
Sale	Common Stock	28,000	$8.6932	$243K
Sale	Common Stock	31,904	$8.5962	$274K

Holdings After Transaction: Common Stock — 647,105 shares (Direct)

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 $8.48 to $8.71, 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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.58 to $8.87, 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

Total shares sold: 59,904 shares Shares sold July 15, 2026: 31,904 shares Shares sold July 16, 2026: 28,000 shares +3 more

6 metrics

Total shares sold 59,904 shares Aggregate open-market sales of common stock on July 15–16, 2026

Shares sold July 15, 2026 31,904 shares Non-derivative common stock sale at a weighted average price of $8.5962 per share

Shares sold July 16, 2026 28,000 shares Non-derivative common stock sale at a weighted average price of $8.6932 per share

Price range footnote F2 $8.48 to $8.71 Range of prices for multiple transactions comprising one set of reported sales

Price range footnote F3 $8.58 to $8.87 Range of prices for multiple transactions comprising another set of reported sales

Shares held after transactions 647,105 shares Direct common stock ownership by Joan M Herman following the July 16, 2026 sale

Key Terms

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

3 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. These shares were sold in multiple transactions"

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 of Common Stock by the reporting person"

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/16/2026 - 08:00 PM Accepted by SEC EDGAR 07/16/2026 - 08:00 PM Learn about SEC filing dates

FAQ

How many Paysign (PAYS) shares did Joan M Herman sell in this Form 4?

Joan M Herman sold a total of 59,904 shares of Paysign common stock. The Form 4 reports open-market sales on July 15 and 16, 2026, executed at weighted average prices of $8.5962 and $8.6932 per share, respectively.

What prices were received for the Paysign (PAYS) stock sales reported by Joan M Herman?

The reported weighted average prices were $8.5962 per share for 31,904 shares sold and $8.6932 per share for 28,000 shares sold. Footnotes state individual trades occurred in ranges of $8.48–$8.71 and $8.58–$8.87 per share.

How many Paysign (PAYS) shares does Joan M Herman hold after these transactions?

After the reported sales, Joan M Herman directly holds 647,105 shares of Paysign common stock. The Form 4 lists this figure as the total shares following transaction for the July 16, 2026 open-market sale entry.

Were Joan M Herman’s Paysign (PAYS) stock sales made under a Rule 10b5-1 plan?

Yes. A footnote explains the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 12, 2025. Such plans pre-schedule trades, reducing the role of day-to-day discretion in timing.

Did the Paysign (PAYS) insider filing report any derivative security transactions?

No derivative transactions were reported. The structured data show a derivativeTransactionCount of 0 and an empty derivativeSummary, indicating only non-derivative common stock sales were included in this Form 4 for Joan M Herman.

What is Joan M Herman’s role at Paysign (PAYS) according to this filing?

The reporting person, Joan M Herman, is identified as both a director and an officer of Paysign, serving as EVP, Operations. This dual role means the reported trades reflect activity by a senior member of management and the board.

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)
07/15/2026

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	07/15/2026		S(1)		31,904	D	$8.5962(2)	675,105	D
Common Stock	07/16/2026		S(1)		28,000	D	$8.6932(3)	647,105	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 $8.48 to $8.71, 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 $8.58 to $8.87, 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	07/16/2026
	** 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)