Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 16

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 16
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2,500 |
| Investment Committee Chair annual retainer(2)                     |     | $ |  2,500 |

| (1) | The Lead Independent Director receives the Lead Independent Director annual retainer in addition to the annual cash retainer. |

| (2) | The committee chair receives the chair annual retainer in addition to the respective committee member retainer. |

Equity Awards: Stock Awards (Column (c)) and Option Awards (Column (d)) The amounts reported in these columns reflect the grant-date fair value of time-based restricted stock units (“RSUs”) and stock option awards, respectively, granted to each independent director and computed in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718. The amounts do not reflect whether the recipient has actually received a financial gain from these awards (such as a lapse in the restrictions on time-based RSUs or an exercise of stock options). For fiscal 2025, the equity-based compensation structure for independent directors was set at a total fair value of approximately $185,000 per director and $218,000 for the Chairman of the Board, with approximately 50% awarded in the form of stock options and 50% in the form of time-based RSUs. In July 2024, all directors (except for Messrs. Flaschen and Golisano) received an annual equity award under the Paychex, Inc. 2002 Stock Incentive Plan, as amended and restated October 15, 2020 (the “2002 Plan”) as follows:

| Grant Date           |     |                                                                                                                                                 Time-Based RSUs 
                                                                                                                                                   July 15, 2024 |     |                                                                        Stock Options 
                                                                        July 15, 2024 |
|:---------------------|:----|----------------------------------------------------------------------------------------------------------------------------------------------------------------:|:----|-------------------------------------------------------------------------------------:|
| Exercise Price       |     |                                                                                                                                                             N/A |     |                                                                              $121.63 |
| Quantity             |     |                                                                                                                                                          See(1) |     |                                                                               See(1) |
| Fair Value(2)        |     |                                                                                                                                                         $121.63 |     |                                                                               $27.60 |
| Vesting Schedule     |     |                                                                                                                  On the first anniversary of the date of grant. |     |                                       On the first anniversary of the date of grant. |
| Certain Restrictions |     |                                   Shares may not be sold during the director’s tenure as a member of the Board, except as necessary