Company: PAYX
Filing Date: 2025-03-31
Form Type: S-3ASR
Source: 0001193125-25-067979
Chunk: 12

Company: PAYCHEX INC
Filing Date: 2025-03-31
Form: S-3ASR
Chunk 12
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 institute suit for the enforcement of any such payment, and such rights may not be impaired without the consent of that holder of debt securities. We will be required to file annually with the trustee a certificate, signed by one of our principal executive, principal financial or principal accounting officers, stating whether or not the officer knows of any default by us in the performance, observance or fulfillment of any condition or covenant of the indenture. Registered Global Securities We may issue the debt securities of a series in whole or in part in the form of one or more fully registered global securities that we will deposit with a depositary or with a nominee for a depositary identified in the applicable prospectus supplement and registered in the name of such depositary or nominee. In such case, we will issue one or more registered global securities denominated in an amount equal to the aggregate principal amount of all of the debt securities of the series to be issued and represented by such registered global security or securities. Unless and until it is exchanged in whole or in part for debt securities in definitive registered form, a registered global security may not be transferred except as a whole:

| • |     | by the depositary for such registered global security to its nominee, |

| • |     | by a nominee of the depositary to the depositary or another nominee of the depositary, or |

| • |     | by the depositary or its nominee to a successor of the depositary or a nominee of the successor. |

10

The prospectus supplement relating to a series of debt securities will describe the specific terms of the depositary arrangement with respect to any portion of such series represented by a registered global security. We anticipate that the following provisions will apply to all depositary arrangements for debt securities:

| • |     | ownership of beneficial interests in a registered global security will be limited to persons that have accounts                                                     
 with the depositary for the registered global security, those persons being referred to as “participants,” or persons that may hold interests through participants; |

| • |     | upon the issuance of a registered global security, the depositary for the registered global security will credit,                                                                                                                 
 on its book-entry registration and transfer system, the participants’ accounts with the respective principal amounts of the debt securities represented by the registered global security beneficially owned by the participants; |

| • |     | any dealers, underwriters, or agents participating in the distribution of the debt securities will initially 
 designate the accounts to be credited; and                                                                   |

| • |     | ownership of any