Company: ADP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000008670-25-000015
Chunk: 84

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 2
Chunk 84
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Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds.

Issuer Purchases of Equity SecuritiesTotal Numberof Shares Purchased (1)Average PricePaid per Share (3)Total Number ofShares Purchasedas Part of thePubliclyAnnouncedCommon Stock Repurchase Plan (2)Maximum Approximate Dollar Valueof Shares thatmay yet bePurchased underthe Common StockRepurchase Plan (2) (3)PeriodJanuary 1 to 31, 2025340,468 $297.61 338,823 $2,330,801,457 February 1 to 28, 2025284,523 $311.75 284,197 $2,242,204,855 March 1 to 31, 2025374,139 $303.22 373,926 $2,128,823,410 Total999,130 996,946  

(1)     During the three months ended March 31, 2025, pursuant to the terms of the Company’s restricted stock program, the Company purchased 2,184 shares at the then-market value of the shares to satisfy certain tax withholding requirements for employees upon the vesting of their restricted shares. (2)The Company received the Board of Directors' approval in November 2022 to repurchase $5 billion of its common stock. (3)Inclusive of the impact of the one-percent excise tax under the Inflation Reduction Act of 2022.

There is no expiration date for the common stock repurchase authorization.

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Item 5.  Other Information

(a) On April 28, 2025, the Board of Directors (the "Board") of the Company amended and restated the Company's By-Laws to make minor clarifying changes under Sections 2.04 and 2.05 of the By-Laws. The full text of the amended and restated By-Laws is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

(c) The following individuals became executive officers under Section 16 of the Securities Exchange Act of 1934 during the fiscal quarter ended March 31, 2025.  We are reporting the following trading arrangements that are intended to satisfy the affirmative defense of Rule 10b5–1(c), which the executive officers adopted prior to becoming executive officers.  For the fiscal quarter ended March 31, 2025, none of the Company’s