Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 56

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 56
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| (1) | Mr. Schrader was not an NEO for fiscal 2023 and Mr. Ante was not an NEO for fiscal 2024 and 2023. |

The fiscal 2025 annual performance-based stock awards have a three-year performance period and a maximum payout opportunity of 200% of the target number of performance units. Annual performance-based stock awards prior to fiscal 2025 had a two-yearperformance period, followed by an additional year of service required (i.e., total of three years), and a maximum payout opportunity of 150% of the target number of performance units. The performance-based stock award granted to Mr. Ante in May 2025 has a three-year performance period and a maximum payout opportunity of 150% of the target number of performance units. Refer to the Grants of Plan-Based Awards for Fiscal 2025 table included in this proxy statement for further information on time-based RSUs and performance-based RSUs granted in fiscal 2025. Option Awards (Column (e)) The amounts in this column reflect the grant-date fair value of stock options granted during the respective fiscal years and were computed in accordance with FASB ASC Topic 718. The amounts do not reflect whether the recipient has actually realized a financial gain from such awards (such as by exercising stock options). The grant-date fair values per share of the stock options were determined using a Black-Scholes option pricing model. For additional information about the assumptions used in these calculations for fiscal 2025, see Note F, “Stock-Based Compensation Plans,” to our audited consolidated financial statements for fiscal 2025, included in our Form 10-K. Refer to the Grants of Plan-Based Awards for Fiscal 2025 table included in this proxy statement for further information on stock options granted in fiscal 2025. Non-EquityIncentive Plan Compensation (Column (f)) The amounts in this column are the amounts earned under the annual incentive program. These amounts were paid in July following the applicable fiscal year end. Refer to the discussion in the CD&A “Elements of Compensation” subsection “Annual Incentive Program” for information on performance targets and achievement against those targets to determine the amount earned under this program for fiscal 2025. All Other Compensation (Column (g)) The amounts reported in this column reflect the Company matching contributions under the 401(k) Plan. Paychex, Inc. 2025 Proxy Statement •49

| NEO Compensation |

Grants of Plan-Based Awards for Fiscal