Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 20

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 20
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 business, the company has business relationships with certain companies in which ADP directors also serve as executive officers or on the board of directors, including for example, hardware, software, HCM and other technology services. Based on the standards described above, the board of directors has determined that none of these transactions or relationships, nor the associated amounts paid to the parties, was material or would impede the exercise of independent judgment. It is our policy that our directors attend the Annual Meetings of Stockholders. All of our directors then in office attended our 2024 Annual Meeting of Stockholders. During fiscal year 2025, our board of directors held ten (10) meetings. At various points throughout the fiscal year, our board meetings consist of two-day sessions so that our board has ample opportunity to evaluate and discuss our strategy, product portfolio and talent. All of our incumbent directors attended at least 75%, in the aggregate, of the meetings of the board of directors and the committees of which they were members during the periods that they served on our board of directors during fiscal year 2025. Executive sessions of the independent, non-management directors are held during each meeting of the committees and the board of directors. Mr. Lynch, our non-executive chair, presides at each executive session of the board of directors.

| Board Leadership Structure |

Our corporate governance principles do not require the separation of the roles of board chair and chief executive officer because the board believes that effective board leadership can depend on the skills and experience of, and personal interaction between, people in leadership roles. Our board of directors is currently led by Mr. Lynch, our independent, non-executive chair. Ms. Black, our chief executive officer, serves as a member of the board of directors. The board of directors believes the current leadership structure is in the best interests of the company’s stockholders at this time. Separating these positions allows our chief executive officer to focus on developing and implementing the company’s business plans and supervising the company’s day-to-day business operations, and allows our non-executive chair to lead the board of directors in its oversight, advisory, and risk management roles. The non-executive chair is responsible for the management, development, and the effective performance of the board, and provides leadership to the board for all aspects of the board’s work, as well as engaging with major stockholders, if requested.

| 17 | | | Automatic Data Processing, Inc. – Proxy Statement |

| Corporate Governance |

| Board Composition and Director Succession Planning |

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