Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 58

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 58
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” in Appendix A of this proxy statement for a discussion of this non-GAAPmeasure and a reconciliation to the most comparable GAAP measure of operating income. In addition, actual payout is subject to a downward or upward adjustment of 25% based on based on the Company’s three-year TSR performance versus that of the S&P 500. The performance-based RSUs granted to Mr. Ante on May 14, 2025, are based on achievement of average annual synergy attainment over a three-year performance period, in connection with the acquisition of Paycor. All Other Stock Awards: Number of Shares of Stock or Units (Column (i)) The amounts in this column consist of time-based RSUs granted in fiscal 2025 under the 2002 Plan. The time-based RSUs granted to our executive officers vest one-thirdannually over a three-year period from the date of grant, provided the executive officer is an employee of the Company on the vesting date. NEOs do not have voting rights on these awards prior to vesting, but do accrue dividend equivalents which are paid at the time of vesting. All Other Option Awards: Number of Securities Underlying Options (Column (j)) The amounts in this column consist of time-based stock options granted in fiscal 2025 under the 2002 Plan. The stock options have an exercise price equal to the closing stock price on the date of grant and have a term of ten years. The stock options granted to our executive officers, vest one-thirdper annum over a three-year period from the date of grant, provided the executive officer is an employee of the Company on the vesting date. Grant-Date Fair Value of Stock and Option Awards (Column (l)) The amounts in this column represent the aggregate grant-date fair value of time-based RSUs, performance-based RSUs, and stock options granted in fiscal 2025 under the 2002 Plan.

| • |     | The grant-date fair value of the time-based RSUs granted to our NEOs (excluding Mr. Ante, who joined the Company in April 2025) in July 2024 was $121.63 per share and was determined based on the closing price of the underlying common stock on the date of grant. |

| • |     | The grant-date fair value of the performance-based RSUs granted to our NEOs (excluding Mr. Ante, who joined the Company in April 2025) in July 2024 was $119.70 per share and was determined using