Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 45

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 45
---
2025 to adjust the compensation closer to market based on an analysis against our Peer Group. See further discussion under the “Peer Group” section within this CD&A. The following equity-based compensation was granted in July 2024 for our NEOs (excluding Mr. Ante, who joined the Company in April 2025):

| NEO                |     | Performance-Based         
 RSU Awards (at Target)(1) |     |        |     | Stock     
 Option    
 Awards(2) |     |        |     | Time-Based    
 RSU Awards(3) |     |       |
| John B. Gibson     |     |                           |     | 34,531 |     |           |     | 64,126 |     |               |     | 8,633 |
| Robert L. Schrader |     |                           |     |  9,866 |     |           |     | 18,322 |     |               |     | 2,466 |
| Mark A. Bottini    |     |                           |     |  7,399 |     |           |     | 19,787 |     |               |     | 2,960 |
| Michael E. Gioja   |     |                           |     |  7,811 |     |           |     | 20,887 |     |               |     | 3,124 |

| (1) | Performance-based RSU awards are subject to a three-year performance period. |

| (2) | Stock option awards vest one-third per year over three years and have a term of 10 years. |

| (3) | Time-based RSU awards vest one-third per year over three years. |

Mr. Ante’s PSUs In May 2025, the C&L Committee approved a performance-based RSU award to Mr. Ante (who joined the Company in April 2025), with a grant-date fair value of approximately $3,200,000. This grant consisted of 23,024 performance-based RSUs (at target), which may be earned based on the Company’s average annual synergy attainment over a three-year performance period, in connection with the acquisition of Paycor. Annual synergy targets for each year were established at the start of the performance period as part of the Company’s strategic planning process. At the end of the performance period, the average synergy attainment is measured against pre-establishedthreshold, target, and maximum performance levels set by the C&L Committee. P