Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 23

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 23
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 The inclusion of any website address in this proxy statement does not incorporate by reference the information on or accessible through the website into this proxy statement. Board Leadership Structure The Board’s current leadership structure is comprised of:

| • |     | Chairman of the Board and a non-independent director (Mr. Mucci); |

| • |     | President and CEO as a non-independent director (Mr. Gibson); |

| • |     | an independent director serving as Lead Independent Director (Mr. Tucci); and |

| • |     | Audit, C&L, Corporate Development Advisory, Investment, and N&G committees led by independent directors. |

We currently have separated the roles of Chairman and CEO and believe this structure currently best serves the Company, but may change the leadership structure in the future if the Board believes that a change would best serve the Company and its stockholders. The Board believes this structure provides a well-functioning and effective balance between strong Company leadership and appropriate safeguards and oversight by non-managementdirectors. We believe that the Company is best served by having a Chairman who has in-depthknowledge of the Company’s operations and the industry. Mr. Mucci’s experience as our CEO and long tenure of service on the Board qualify him to lead the Board, particularly as it focuses on strategic risks and opportunities facing the Company. Our Lead Independent Director is responsible for conducting regularly scheduled executive sessions of the non-managementor independent directors and such other responsibilities as the independent directors may assign. Regularly scheduled executive sessions of the members of the Board, without members of management present, are held at each regularly scheduled Board meeting. As appropriate, matters presented to the Board by the N&G and C&L Committees are reviewed and discussed in executive sessions by the independent directors. The Board and its standing committees that meet regularly conduct performance self-evaluations at least annually to assess the qualifications, attributes, skills, and experience represented on the Board and to determine whether the Board and its committees are functioning effectively. The Board also conducts individual Board member assessments annually. Paychex, Inc. 2025 Proxy Statement •19

| Corporate Governance |

Nomination Process The N&G Committee is responsible for recommending candidates to the full Board to either fill vacancies or stand for election at each annual meeting of stockholders. The N&G Committee follows the Board’s Nomination Policy (the “Nomination Policy”), which is included in the N&G Committee Charter. The Board has determined that it is necessary for the continued success of the Company to ensure that the Board is