Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 7

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 7
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 acquire, including risks related to the 
 acquisition and integration of Paycor;                                                                         |

| • |     | our clients’ failure to reimburse us for payments made by us on their behalf; |

| • |     | the effect of changes in government regulations mandating the amount of tax withheld or the timing of 
 remittances;                                                                                          |

| • |     | our failure to comply with covenants in our debt agreements; |

| • |     | changes in governmental regulations, laws, and policies; |

| • |     | our ability to comply with U.S. and foreign laws and regulations; |

| • |     | our compliance with data privacy and artificial intelligence laws and regulations; |

| • |     | our failure to protect our intellectual property rights; |

| • |     | potential outcomes related to pending or future litigation matters; |

S-iv

| • |     | the impact of macroeconomic factors on the U.S. and global economy, and in particular on our small- and medium-sized business clients; |

| • |     | volatility in the political and economic environment, including inflation and interest rate changes; |

| • |     | our ability to attract and retain qualified people; |

| • |     | the possible effects of negative publicity on our reputation and the value of our brand; |

| • |     | the risk that the Acquisition may not be completed in a timely manner or at all, which may adversely affect our 
 business and the price of our common stock;                                                                     |

| • |     | the occurrence of any event, change or other circumstance or condition that could give rise to the termination of 
 the Merger Agreement; and                                                                                         |

| • |     | potential litigation relating to the Acquisition that could be instituted against the parties to the Merger 
 Agreement or their respective directors or officers, including the effects of any outcomes related thereto. |

Any of these factors, as well as other factors discussed in Part I, Item 1A, “Risk Factors” of the Annual Report on Form 10-K (“Form 10-K”)incorporated herein by reference, and in our periodic filings with the Securities and Exchange Commission (the “SEC”), could cause our actual results to differ materially from our anticipated results. The information provided in this prospectus supplement is based upon the facts and circumstances known as of the date of this report, and any forward-looking statements made by us in this prospectus supplement speak only as of the date on which they are made. Except as