Company: PAYX
Filing Date: 2025-07-14
Form Type: 8-K
Source: 0000950170-25-095576
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Company: PAYCHEX INC
Filing Date: 2025-07-14
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 8, 2025, Mark Bottini, Senior Vice President, Sales of Paychex, Inc. (the “ Company”), notified the Company of his intention to retire from his current role with the Company, effective immediately. Mr. Bottini will serve as a special advisor to the Company through August 31, 2025 at his current salary to assist with a smooth transition of his duties.

Also on July 8, 2025, Michael Gioja, Senior Vice President, Product Development and IT of the Company, notified the Company of his intention to retire from his current role with the Company, effective immediately. Pursuant to an Employment Agreement between the Company and Mr. Gioja, he will serve as a special advisor to the Company through December 31, 2025. Under the Employment Agreement, Mr. Gioja will continue to serve on a full-time basis at his current base salary until August 31, 2025, after which his annual base salary will be reduced to $120,000 to reflect his transition to a part-time role. A copy of the Employment Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.