Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 34

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 34
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 Vote |

| • |     | Prohibition of pledging Company stock as collateral. |

| • |     | A long-standing insider trading policy. |

| • |     | A clawback policy applicable to our Annual Officer Performance Incentive Program (the “annual incentive program”) and performance-based stock awards. |

| • |     | Non-compete and other forfeiture provisions within our equity-based compensation agreements. These provisions allow the Company to cancel all or any outstanding portion of equity awards and recoup the gross value of any payouts under the annual incentive program, vested time-based stock awards, vested performance-based stock awards, or profits from exercises of options. |

Results of the 2024 Say-on-PayVote At the 2024 Annual Meeting held on October 10, 2024, approximately 95% of the total stockholder votes cast were in favor of the Company’s NEO compensation as presented in our 2024 proxy statement. The C&L Committee considered this favorable outcome and believed it conveyed our stockholders’ support of the committee’s decisions and the existing executive compensation programs. As we evaluated our compensation practices and talent needs throughout fiscal 2025, the C&L Committee remained mindful of the strong support for our compensation policies and practices communicated by our stockholders at the last annual meeting. For fiscal 2025, the C&L Committee retained the core design of our executive compensation programs as it believes the program continues to attract, retain, and provide appropriate incentive for senior management. In addition, the C&L Committee approved certain changes to our long-term incentive program, as described more fully in the CD&A section of this proxy statement. These changes are intended to increase the focus on performance and to further align executive compensation to the interests of our stockholders. Advisory Vote The C&L Committee, along with the Board, believe that the policies, procedures, and amounts of compensation discussed here, and described further in this proxy statement, are effective in achieving the desired goals of aligning our executive compensation structure with the interests of our stockholders. To indicate approval of our NEO compensation, a majority of the shares entitled to vote on the proposal must be voted for the proposal in person or by proxy at the Annual Meeting. This say-on-payvote is advisory and, therefore, is not binding on the Company, the C&L Committee, or our Board. Our Board values the opinions of our stockholders and, to the extent that there is any significant vote against the NEO compensation as disclosed in this proxy statement, we will