Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 31

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 31
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 Golisano did not participate in any negotiation, decision-making process, or approval of the agreement between the Company and HelloTeam. Our N&G Committee considered the relevant information and approved the transaction after finding the transaction to be on arm’s length terms and in the best interests of the Company. |

Insider Trading Policy The Company has adoptedan insider trading policy, for all employees, designed to promote compliance with insider trading laws, rules and regulations, and any listing standards applicable to the Company. Insiders, who include our directors, executive officers, and certain employees whose duties involve access to material non-publicinformation, may buy and sell the Company’s stock within an open “window period,” which in fiscal 2025 began on the second business day after earnings are announced and ends the last day of the last month of each quarter. Insiders are prohibited from purchasing or selling the Company’s stock if they are in possession of material non-publicinformation, even if it is within the open “window period.” The Company reserves the right to impose an “event-specific blackout period” if it deems insiders to have “insider information,” regardless of if it is an open “window period” and it may do so with little or no notice. Employees subject to the “event-specific black-outperiod” will be notified by the CFO or Chief Legal Officer. Stockholder Engagement During fiscal 2025, the Company engaged with stockholders to discuss our corporate governance and other key matters. We regularly review our corporate governance and executive compensation practices. As part of this assessment, we proactively engage with our stockholders to assist our Board in understanding their perspectives. Since our 2024 Annual Meeting, we invited the top 25 institutional stockholders, owning approximately 50% of our outstanding shares, to meet with us to discuss our corporate governance, executive compensation practices and other key matters. From these engagements, we gained valuable perspectives from our stockholders, which were conveyed to the Board and relevant committees. The stockholders expressed continued focus on board refreshment. Stockholders also sought to better understand how Paychex governs cybersecurity, data privacy and artificial intelligence practices in a manner that is both ethical and secure. Paychex, Inc. 2025 Proxy Statement •26

| Corporate Governance |

Communications with the Board of Directors The Board has established procedures to enable stockholders and other interested parties to communicate in writing with the Board, including the chair of any standing committee of the Board. Written communications should be clearly marked and mailed to: Stockholder and Other