Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 35

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 35
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 consider our stockholders’ concerns and the C&L Committee will evaluate whether actions are necessary to address these concerns.

| The Board recommends a vote FOR the proposal to approve the NEO compensation on an advisory basis, as disclosed in this proxy statement. |

Paychex, Inc. 2025 Proxy Statement •29

COMPENSATION DISCUSSION AND ANALYSIS The CD&A provides a description of our executive compensation policies and programs, the decisions made by the C&L Committee regarding executive compensation, and the factors contributing to those decisions. This discussion focuses on the compensation of our NEOs for fiscal 2025, who were:

| Name                |     | Title                                                               |
| John B. Gibson      |     | President and CEO (Principal Executive Officer)                     |
| Robert L. Schrader  |     | SVP and CFO (Principal Financial Officer)                           |
| Adam Ante           |     | SVP of Paycor                                                       |
| Mark A. Bottini(1)  |     | SVP of Sales                                                        |
| Michael E. Gioja(2) |     | SVP of Information Technology and Product Development (“IT and PD”) |

| (1) | As we previously disclosed, Mr. Bottini retired from his position as SVP of Sales on July 8, 2025 and will continue to serve as a special advisor to the Company through August 31, 2025. |

| (2) | As we previously disclosed, Mr. Gioja retired from his position as SVP of IT and PD on July 8, 2025 and will continue to serve as a special advisor to the Company through December 31, 2025. |

Executive Summary Business and Financial Highlights Our executive compensation is tied to financial and operational performance and is intended to drive sustained, long-term increases in stockholder value. During fiscal 2025, we delivered solid financial results, reflecting growth across our business. Reported financial results for fiscal 2025 and the respective growth percentages compared to fiscal 2024 were as follows:

| Total service revenue   $5.4B   5% increase |     | Operating income   $2.2B   2% increase                          |     | Diluted earnings per share   $4.58   2% decrease             |
| 5-year TSR(1)     151%                      |     | Operating income, net of certain items(2)   $2.2B   7% increase |     | Adjusted diluted