Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 39

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 39
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| Performance Period       |     | Ongoing                   |     | 1-year                                                                                                       |     | Vest ratably   over 3 years                 |     |            |     | 3-year    performance    period                                                           |
| How Payout is Determined |     | C&L Committee    Judgment |     | Quantitative   based on   achievement   against   targets;   small portion   qualitative                     |     | Based on stock price on  exercise/vest date |     |            |     | Quantitative based    on achievement    against targets;    and a 25%    rTSR modifier(1) |
| Performance Metrics      |     | N/A                       |     | Service   revenue;   operating   income, net   of certain   items; and   annualized   new business   revenue |     | N/A                                         |     | N/A        |     | Service    revenue;    operating    income, net    of certain    items, and    rTSR       |

| (1) | Performance-based RSU awards are subject to a relative TSR metric, which modifies the final payout downward or upward by up to 25% based on the Company’s three-year TSR performance versus the S&P 500’s three-year TSR performance. |

Paychex, Inc. 2025 Proxy Statement •34

| CD&A |

Highlights of Executive Compensation Practices The Board maintains governance standards and oversight of our executive compensation policies and practices. The following governance practices were in place during fiscal 2025, and these practices, among other elements of our compensation programs, aid in mitigating risk associated with our compensation programs.

| WHAT WE DO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     | WHAT WE DON’T DO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| ✓  Pay for performance. A significant portion of executive pay is not guaranteed but rather tied to key financial metrics that are disclosed to our stockholders.