Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 73

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 73
---
s for fiscal 2025 to Company performance. The measures listed below are not ranked.

| • |     | Annualized new business revenue(1) |

| • |     | Operating income, net of certain items(2) |

| • |     | Relative total shareholder return(3) |

| • |     | Service revenue |

| (1) | Annualized new business revenue is the approximate amount of revenue to be earned over the first12-monthperiod, from the sale in the current fiscal year, of certain management solutions; and professional employer organization and insurance solutions to new clients and new product sales to existing clients. This measure is not directly calculated from our audited financial statements, as reported service revenue also includes recurring revenue frompre-existingclients. |

| (2) | Operating income, net of certain items is anon-GAAPmeasure. Please refer to “Paychex, Inc.Non-GAAPFinancial Measures” in Appendix A of this proxy statement for a discussion of thisnon-GAAPmeasure and a reconciliation to the most comparable GAAP measure of operating income. |

| (3) | Relative total shareholder return is based on the Company’s TSR performance versus the S&P 500’s TSR performance for a specified period. |

Paychex, Inc. 2025 Proxy Statement •64

PROPOSAL 3: RATIFICATION OF THE SELECTION OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

| What am I voting on?                                                                                                                                                                                         |     | Voting Recommendation                                                                                                          |
| Stockholders are being asked to ratify the appointment of PricewaterhouseCoopers LLP (“PwC”) as the Company’s independent registered public accounting firm (the “independent accountants”) for fiscal 2026. |     | The Board of Directors recommends a vote FOR the ratification of PwC as the Company’s independent accountants for fiscal 2026. |

The Audit Committee has appointed PwC as the Company’s independent accountants for fiscal 2026. The firm has served as the independent accountants for the Company since the fiscal year ended May 31, 2014. In connection with the decision to appoint PwC, the Audit Committee evaluates: their reputation, qualifications, and experiences; quality of communications and interactions during the past year; and their independence and objectivity. Although action by stockholders in this matter is not required, the Audit Committee believes that it is appropriate to seek stockholder ratification of this appointment and to seriously consider stockholder opinion on this issue.