=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-08-21
10b5-1 Pre-arranged Plan: No
--- Issuer ---
Name: CORPAY, INC. (CPAY)
CIK: 0001175454
--- Reporting Owner ---
Name: Clarke Ronald
CIK: 0001506862
Role: Director, Officer (CEO & Chairman of BOD)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common Stock
Date: 2026-08-21 | Code: M (Exercise of derivative)
Shares: +450,000 | Price: $150.74
Total Value: $67,833,000.00
Shares Owned After: 2,858,233 | Ownership: D (Direct)
[Transaction #2]
Security: Common Stock
Date: 2026-08-21 | Code: F (Payment of exercise/tax)
Shares: -290,043 | Price: $417.13
Total Value: $120,985,636.59
Shares Owned After: 2,568,190 | Ownership: D (Direct)
Footnotes:
[F1] Payment of tax liability and exercise price by withholding securities incident to the exercise of a security issued in accordance with Rule 16b-3
[Transaction #3]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -5,882 | Price: $414.16
Total Value: $2,436,066.77
Shares Owned After: 2,562,308 | Ownership: D (Direct)
Footnotes:
[F2] Reflects the weighted average sale price. The range of prices for such transaction is $413.54 to $414.54. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #4]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -51,919 | Price: $415.12
Total Value: $21,552,682.77
Shares Owned After: 2,510,389 | Ownership: D (Direct)
Footnotes:
[F3] Reflects the weighted average sale price. The range of prices for such transaction is $414.55 to $415.55. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #5]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -16,540 | Price: $415.82
Total Value: $6,877,611.53
Shares Owned After: 2,493,849 | Ownership: D (Direct)
Footnotes:
[F4] Reflects the weighted average sale price. The range of prices for such transaction is $415.56 to $416.56. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #6]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -8,409 | Price: $417.29
Total Value: $3,509,008.43
Shares Owned After: 2,485,440 | Ownership: D (Direct)
Footnotes:
[F5] Reflects the weighted average sale price. The range of prices for such transaction is $416.58 to $417.58. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #7]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -7,545 | Price: $418.08
Total Value: $3,154,377.38
Shares Owned After: 2,477,895 | Ownership: D (Direct)
Footnotes:
[F6] Reflects the weighted average sale price. The range of prices for such transaction is $417.59 to $418.59. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #8]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -4,039 | Price: $418.86
Total Value: $1,691,757.77
Shares Owned After: 2,473,856 | Ownership: D (Direct)
Footnotes:
[F7] Reflects the weighted average sale price. The range of prices for such transaction is $418.60 to $419.35. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #9]
Security: Common Stock
Date: 2026-08-24 | Code: S (Open market sale)
Shares: -40 | Price: $419.62
Total Value: $16,784.60
Shares Owned After: 2,473,816 | Ownership: D (Direct)
[Transaction #10]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -6,854 | Price: $409.56
Total Value: $2,807,130.41
Shares Owned After: 2,466,962 | Ownership: D (Direct)
Footnotes:
[F8] Reflects the weighted average sale price. The range of prices for such transaction is $408.99 to $409.99. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #11]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -12,109 | Price: $410.56
Total Value: $4,971,485.57
Shares Owned After: 2,454,853 | Ownership: D (Direct)
Footnotes:
[F9] Reflects the weighted average sale price. The range of prices for such transaction is $410 to $410.99. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #12]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -15,575 | Price: $411.49
Total Value: $6,409,015.93
Shares Owned After: 2,439,278 | Ownership: D (Direct)
Footnotes:
[F10] Reflects the weighted average sale price. The range of prices for such transaction is $411.01 to $412.01. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #13]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -50,504 | Price: $412.58
Total Value: $20,837,192.84
Shares Owned After: 2,388,774 | Ownership: D (Direct)
Footnotes:
[F11] Reflects the weighted average sale price. The range of prices for such transaction is $412.02 to $413.02. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #14]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -24,670 | Price: $413.42
Total Value: $10,199,189.82
Shares Owned After: 2,364,104 | Ownership: D (Direct)
Footnotes:
[F12] Reflects the weighted average sale price. The range of prices for such transaction is $413.03 to $414.03. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #15]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -9,581 | Price: $414.57
Total Value: $3,972,014.33
Shares Owned After: 2,354,523 | Ownership: D (Direct)
Footnotes:
[F13] Reflects the weighted average sale price. The range of prices for such transaction is $414.04 to $415.04. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
[Transaction #16]
Security: Common Stock
Date: 2026-08-25 | Code: S (Open market sale)
Shares: -193 | Price: $415.11
Total Value: $80,116.85
Shares Owned After: 2,354,330 | Ownership: D (Direct)
Footnotes:
[F14] Reflects the weighted average sale price. The range of prices for such transaction is $415.07 to $415.14. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
--- Derivative Transactions ---
[Transaction #1]
Security: Employee Stock Options
Date: 2026-08-21 | Code: M (Exercise of derivative)
Shares: -450,000 | Price: $0.00
Exercise Price: $150.74
Exercisable: N/A | Expires: 2027-01-25
Shares Owned After: 200,000 | Ownership: D (Direct)
--- Footnotes (Complete Index) ---
F1: Payment of tax liability and exercise price by withholding securities incident to the exercise of a security issued in accordance with Rule 16b-3
F10: Reflects the weighted average sale price. The range of prices for such transaction is $411.01 to $412.01. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F11: Reflects the weighted average sale price. The range of prices for such transaction is $412.02 to $413.02. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F12: Reflects the weighted average sale price. The range of prices for such transaction is $413.03 to $414.03. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F13: Reflects the weighted average sale price. The range of prices for such transaction is $414.04 to $415.04. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F14: Reflects the weighted average sale price. The range of prices for such transaction is $415.07 to $415.14. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F2: Reflects the weighted average sale price. The range of prices for such transaction is $413.54 to $414.54. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F3: Reflects the weighted average sale price. The range of prices for such transaction is $414.55 to $415.55. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F4: Reflects the weighted average sale price. The range of prices for such transaction is $415.56 to $416.56. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F5: Reflects the weighted average sale price. The range of prices for such transaction is $416.58 to $417.58. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F6: Reflects the weighted average sale price. The range of prices for such transaction is $417.59 to $418.59. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F7: Reflects the weighted average sale price. The range of prices for such transaction is $418.60 to $419.35. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F8: Reflects the weighted average sale price. The range of prices for such transaction is $408.99 to $409.99. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
F9: Reflects the weighted average sale price. The range of prices for such transaction is $410 to $410.99. Open market sale transactions were made on the same day at different prices through a trade order executed by a broker-dealer. The reporting person has reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities and Exchange Commission staff, the issuer or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.
--- Signature ---
/s/ /s/ Crystal Williams, under a power of attorney (2026-08-25)
