Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Nonvested Restricted Stock Awards and PSU Activity

The following table summarizes restricted stock awards activity for the three months ended March 31, 2022:

	Time-Based					Market-Based
	Restricted Stock Awards					Restricted Stock Awards
	Shares			Weighted Average Grant Date Fair Value Per Share		Shares			Weighted Average Grant Date Fair Value Per Share
Unvested shares of restricted stock outstanding at December 31, 2021		369.6		$	259.94		1,628.3		$	111.87
Granted		149.7		$	321.21		59.5		$	268.93
Vested		(3.9	)	$	114.94		—		$	278.24
Forfeited		(11.2	)	$	319.01		(2.1	)	$	281.75
Unvested shares of restricted stock outstanding at March 31, 2022		504.2		$	277.92		1,685.7		$	117.20

Summary of Unrecognized Compensation Cost and Related Weighted Average Recognition Period Associated with Unvested restricted Stock Awards and Unvested PSU Awards

The following table presents the unrecognized compensation cost and the related weighted average recognition period associated with unvested restricted stock awards and unvested PSU awards as of March 31, 2022.

	Restricted Stock
	Awards		PSUs
Unrecognized compensation cost	$	242,128	$	26,009
Weighted average period for recognition (years)		3.5		2.1

Performance-Based Restricted Stock Units [Member]

Summary of Nonvested Restricted Stock Awards and PSU Activity

The following table summarizes PSU activity for the three months ended March 31, 2022:

	PSUs
	Units		Weighted Average Grant Date Fair Value Per Unit
Unvested PSUs outstanding at December 31, 2021		37.1	$	556.50
Granted		51.5	$	296.07
Forfeited		—	$	—
Unvested PSUs outstanding at March 31, 2022 (1)		88.6	$	405.17

(1) A maximum of 221,549 units could be awarded based upon Paycom’s Relative TSR over the applicable performance periods.