Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 91

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 91
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 immediately vested and were exercised on June 30, 2025, the last trading day of fiscal year 2025, when the closing price of a share of common stock of the company on the NASDAQ Global Select Market was $308.40 per share. Amount in the Involuntary Termination Without Cause column assumes unvested options that would vest during the severance period (18 months) immediately vested and were exercised on June 30, 2025, the last trading day of fiscal year 2025, when the closing price of a share of common stock of the company on the NASDAQ Global Select Market was $308.40 per share.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (4) | Amount in the Termination Following Change In Control column represents the vesting of RSU awards in full. Amounts in the Death and Disability columns represent the vesting of the September 1, 2023 and September 1, 2024 RSU awards in full. Amount in the Involuntary Termination Without Cause column represents the vesting of RSU awards for an additional 18 months.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| (5) | Amount in the Termination Following Change In Control column represents amount attributable to the fiscal years 2024 and 2025 PSU programs assuming performance goals of these programs will be achieved at 100% target rate. Amounts in the Death and Disability columns represent the sum of (a) the full fiscal year 2024 PSU award based on performance goals achieved at 111% target rate for fiscal year 2024, at 132% target rate for fiscal year 2025, and an assumed achievement at target rate for fiscal year 2026 plus (b) the full fiscal year 2025 PSU award based on performance goals achieved at 132% target rate for fiscal year 2025 and an assumed achievement at target rate for fiscal years 2026 and 2027. Amount in the Involuntary Termination Without Cause column represents the sum of (x) the full fiscal year 2024 PSU award based on performance goals achieved at 111% target rate for fiscal year 2024, at 132% target rate for fiscal year 2025, and an assumed achievement at target rate for fiscal year 2026 plus (y) five sixths of the full fiscal year 2025 PSU award based on performance goals achieved at 132% target rate for fiscal year 2025 and an assumed achievement