Company: PAYX
Filing Date: 2025-03-31
Form Type: S-3ASR
Source: 0001193125-25-067979
Chunk: 4

Company: PAYCHEX INC
Filing Date: 2025-03-31
Form: S-3ASR
Chunk 4
---
 cyberattacks, security vulnerabilities or Internet disruptions, including data security and 
 privacy leaks and data loss and business interruptions;                                                        |

| • |     | the possibility of failure of our business continuity plan during a catastrophic event; |

| • |     | the failure of third-party service providers to perform their functions; |

| • |     | the possibility that we may be exposed to additional risks related to our                
 co-employment relationship with our professional employer organization (“PEO”) business; |

| • |     | changes in health insurance and workers’ compensation insurance rates and underlying claim trends; |

| • |     | risks related to acquisitions and the integration of the businesses we acquire, including risks related to the 
 acquisition and integration of Paycor;                                                                         |

| • |     | our clients’ failure to reimburse us for payments made by us on their behalf; |

| • |     | the effect of changes in government regulations mandating the amount of tax withheld or the timing of 
 remittances;                                                                                          |

| • |     | our failure to comply with covenants in our debt agreements; |

| • |     | changes in governmental regulations, laws, and policies; |

| • |     | our ability to comply with U.S. and foreign laws and regulations; |

| • |     | our compliance with data privacy and artificial intelligence laws and regulations; |

| • |     | our failure to protect our intellectual property rights; |

| • |     | potential outcomes related to pending or future litigation matters; |

2

| • |     | the impact of macroeconomic factors on the U.S. and global economy, and in particular on our small- and medium-sized business clients; |

| • |     | volatility in the political and economic environment, including inflation and interest rate changes; |

| • |     | our ability to attract and retain qualified people; and |

| • |     | the possible effects of negative publicity on our reputation and the value of our brand. |

Any of these factors, as well as other factors discussed in “Part I – Item 1A, Risk Factors” of the Annual Report on Form 10-K (“Form 10-K”incorporated herein by reference, and in our periodic filings with the Securities and Exchange Commission (the “SEC”), could cause our actual results to differ materially from our anticipated results. The information provided in this prospectus is based upon the facts and circumstances known as of the date of this report, and any forward-looking statements made by us in this