---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-001818"
form_type: "8-K"
ticker: "PAYS"
cik: "0001496443"
company_name: "Paysign, Inc."
filed_at: "2023-03-28T23:59:59+00:00"
generated_at: "2026-06-17T12:40:01.238391+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Paysign repurchases 200K shares from former director at ~$666K, 90% of VWAP

## Summary
- Repurchased 200,000 shares from former director Daniel Spence at 90% of 10-day VWAP; total price $666,018.
- Agreement includes a right of first refusal on any future transfers by Spence.
- Spence granted irrevocable proxy to CEO, General Counsel, and CFO to vote his remaining shares.
- One-year standstill provision prohibits Spence from acquiring additional company shares.
- Company paid using available cash; shares retired or held as treasury.

## SEC filing metadata
- accession: 0001683168-23-001818
- form_type: 8-K
- ticker: PAYS
- cik: 0001496443
- company_name: Paysign, Inc.
- filed_at: 2023-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1496443/000168316823001818/0001683168-23-001818-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1496443/000168316823001818/paysign_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-001818
- JSON: https://secwatch.observer/filing/0001683168-23-001818.json
- Plain text: https://secwatch.observer/filing/0001683168-23-001818.txt

## Key facts
- Material Agreements
  Paysign, Inc. entered into Stock Repurchase Agreement with Daniel H. Spence valued at $666,018.00 for 200,000 shares of common stock (effective 2023-03-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Daniel H. Spence
  - Value: $666,018.00 for 200,000 shares of common stock
  - Effective: 2023-03-23
  source text: On March 23, 2023, we entered into a stock repurchase agreement (the “Stock Repurchase Agreement”) with Daniel H. Spence, a former director of our company, pursuant to which we repurchased 200,000 shares of common stock held by Mr. Spence (the “Repurchase”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1496443/000168316823001818/0001683168-23-001818-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.