Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 53

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 53
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 tools to evaluate executive compensation. This information is reviewed in a subjective manner. There is no implied direct or formulaic linkage between peer information and the C&L Committee’s compensation decisions. Paychex, Inc. 2025 Proxy Statement •45

| CD&A |

Our CEO and our CHRO provide recommendations to the C&L Committee on design elements for compensation. These individuals, and from time-to-timeinvited guests including other officers, will attend the meetings of the C&L Committee to present and respond to questions on current or proposed plan design. Annually, our CEO reviews achievement of the recently completed fiscal year’s plan and presents recommendations regarding salary for each of the NEOs (other than himself), the upcoming fiscal year’s annual incentive program structure, and equity awards. Management is excluded from executive sessions of the C&L Committee where final decisions on compensation are made, particularly those on our CEO’s performance and compensation. Executive sessions occur at each meeting of the C&L Committee. Peer Group In addition to many other factors that affect compensation decisions, the C&L Committee takes into account the compensation practices of our Peer Group, where available, in formulating our compensation program. Peer Group review is not the sole determining factor in the C&L Committee’s decisions on compensation, and the C&L Committee reserves the discretion to adjust compensation based on other factors as previously discussed. The Peer Group companies were selected based upon the following criteria: comparable business model, company size including revenues, earnings, and market capitalization, executive talent sources, competition for investor capital, companies considered by our investors to be our peers, and overall reasonableness. The Peer Group is comprised of the following industries or segments: a direct competitor in the HCM industry, financial transaction management companies, and business services and outsourcing companies. Our Peer Group used for evaluating executive compensation for fiscal 2025 consisted of the following companies:

| Peer Group                           |     |                                  |
| Automatic Data Processing, Inc.      |     | Global Payments, Inc.            |
| Broadridge Financial Solutions, Inc. |     | Intuit, Inc.                     |
| Corpay, Inc.                         |     | Jack Henry & Associates, Inc.    |
| Equifax, Inc.                        |     | Moody’s Corporation              |
| Euronet Worldwide, Inc.              |     | SS&C Technologies Holdings, Inc. |
| Fair Isaac Corporation               |     | TransUnion                       |
| Fiserv, Inc.                         |     | Verisk Analytics, Inc