Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 49

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 49
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 more than one year in advance. Annual grants of equity awards, including stock options, to our NEOs and members of the Board are approved during the regularly scheduled meeting of the C&L Committee in July after the release of our fiscal year-endearnings and upcoming fiscal year financial guidance. Our trading black-outperiod normally lifts on the second business day following such release of information.The C&L Committee may also grant equity awards to individuals upon hire or promotion to executive officer positions or appointment to the Board. These equity awards are not granted during any trading black-outperiods. Recipients are notified shortly after C&L Committee approval of their grant, noting the number of stock options, shares of time-based stock, target performance-based stock awards and goals, the vesting schedule, and exercise price. Any sales restrictions or other terms of the award are also communicated at that time. The C&L Committee does not grant equity awards in anticipation of the release of material nonpublic information. Similarly, we do not timethe release of material nonpublic information based on equity award grant dates. Prohibition on Hedging or Speculating in Company Stock NEOs, along with all employees of the Company, must adhere to strict standards with regards to trading in Paychex stock. These standards are set forth in our insider trading policy. Specifically, we prohibit executive officers from hedging Paychex stock. They may not, among other things:

| • |     | speculatively trade in the Company’s stock; |

| • |     | short sell any securities of the Company; or |

| • |     | buy or sell puts or calls on the Company’s securities. |

Pledging of Company Stock We maintain a pledging policy for all Paychex directors, officers, and employees that prohibits pledging of Company stock for any purpose. Our pledging policy is posted on our website at https://investor.paychex.com/corporate-governance/governance-documents. Clawback Policy On October 11, 2023, the C&L Committee adopted the Paychex, Inc. Policy for the Recovery of Erroneously Awarded Compensation (the “Clawback Policy”), a copy of which was filed as Exhibit 97.1 to the Company’s Form 10-Kfor fiscal 2024, effective October 2, 2023. The Clawback Policy applies to all executive officers, including all NEOs. Under the Clawback Policy, in the event that the Company is required to prepare an accounting